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FxWirePro: AUD/USD sees a knee-jerk slump after S&P cuts Australia's sovereign credit outlook to negative

S&P lowers Australia's sovereign credit outlook down to negative from stable. AUD/USD slumps around 60 pips from 0.7529 levels to 0.7466. The pair has recovered from lows to currently retake the 0.75 hande. Strong suppor…

By FxWire Pro
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FxWirePro: AUD/USD sees a knee-jerk slump after S&P cuts Australia's sovereign credit outlook to negative
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  • S&P lowers Australia's sovereign credit outlook down to negative from stable.
     
  • AUD/USD slumps around 60 pips from 0.7529 levels to 0.7466.
     
  • The pair has recovered from lows to currently retake the 0.75 hande.
     
  • Strong support by 100-DMA at 0.7450, break below could see test of 0.7365.
     
  • Resistance on the upside lies at 0.7500 (5-DMA), 0.7538 (session high) and 0.7545 (July 4th and 5th high).
     

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By FxWirePro Team