AUD/USD Technical Analysis: Aussie breaks below 0.7500 level, worst daily decline since mid-March
|- AUD/USD broke below 0.7500 and is continuing the free fall. The next likely support is located at 0.7476 May 29 swing low and at 0.7412 May’s low.
- AUD/USD is probably en route to its worst daily decline since mid-March, this Thursday.
- However, if the Aussie finds support at 0.7476 swing low and rebounds, the bulls might try to reintegrate the channel in the coming sessions.
AUD/USD 15-minute chart
Spot rate: 0.7480
Relative change: -1.27%
High: 0.7584
Low: 0.7481
Trend: Bearish
Resistance 1: 0.7500-0.7514 area, figure and last week’s low
Resistance 2: 0.7560 last Friday’s low
Resistance 3: 0.7606, 50-period daily SMA
Resistance 4: 0.7630, 5-period daily SMA, last Friday’s high
Support 1: 0.7476 May 29 low
Support 2: 0.7412 May’s low
Support 3: 0.7327, 2017, May 7 low
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