AUD/USD Analysis: Finds support at 0.7090
|AUDUSD
Downside risk dominated the Australian Dollar against the US Dollar on Thursday. The Aussie depreciated about 1.07% in value against the Greenback during yesterday's trading session.
The currency pair is currently testing a resistance level formed by the 200-hour simple moving average at 0.7090.
If the exchange rate passes the 200-hour SMA, the next target for bearish traders within this session will be at 0.7071.
Although, if the support level as mentioned earlier holds, the currency exchange rate will aim for a re-tests of a resistance cluster at 0.7145.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.