FxWirePro: AUD/USD outlook weaker on renewed downside pressure
The AUD/USD declined on Thursday, as commodity currencies weakened across the board after oil prices slipped towards $44 per barrel. The pair initially hit high at 0.7546, after finding buying interest around 0.7510 leve…
The AUD/USD declined on Thursday, as commodity currencies weakened across the board after oil prices slipped towards $44 per barrel.
The pair initially hit high at 0.7546, after finding buying interest around 0.7510 levels before retreating towards 0.7514 levels in the early US session.
Currently, the currency pair is trading at 0.7514 levels, it is set to decline future towards 0.7450 and 0.7400 levels in the short term.
To the upside, the strong resistance can be seen at 0.7567, a break above this level would take the pair towards next resistance level at 0.7609.
To the downside, immediate support can be seen at 0.7494, a break below this level will open the door towards next level at 0.7445.
