FxWirePro: AUD/USD repeated failure around 0.73 handle highlights bearish trend
AUD/USD has dropped back from overnight highs at 0.7298 and slipped below the 200 SMA on the hourly charts. Repeated failures around the 0.73 handle on the previous two sessions bring the broader bearish trend back into …
AUD/USD has dropped back from overnight highs at 0.7298 and slipped below the 200 SMA on the hourly charts.
Repeated failures around the 0.73 handle on the previous two sessions bring the broader bearish trend back into the picture
Earlier in the day, Australia Westpac leading index came in at m/m 0.1% m/m in September vs -0.3% in the previous month
Markets continue to monitor the RBA's mood (upbeat) and US data in respect of timings of Central Bank actions for further cues
Aussie remains underpinned by the latest RBA minutes which sounded upbeat on the Australian economic prospects, also noting that the AUD level is supporting the economic re-balancing
Trendline resistance is located at 0.7280, breaks beyond could take the pair to 0.7385 Fibo retracement, a key upside target
On the downside, minor trendline support is located at 0.7250, breaks below could target 0.7240 levels
