AUD/USD hits fresh six months lows under 0.7500


  • US dollar remains strong after FOMC and amid risk aversion.
  • AUD/USD suffers the worst weekly slide since September of last year.

The AUD/USD dropped further during the American session, breaking under 0.7500 as the rally of the US dollar goes on. The pair bottomed at 0.7483, reaching the lowest level since December of last year.

The pair is falling for the fourth consecutive day in a row, accumulating a decline of more than 200 pips. The slide accelerated after the FOMC meeting. The Fed signaling that it could raise rates sooner than previously expected, triggered a rally of the dollar and pushed metals to the downside.

Commodity-linked currencies are also under pressure amid a deterioration in market sentiment. The Dow Jones is falling by 1.37% and the Nasdaq 0.45%.

Terrible week for AUD/USD

The aussie is having the biggest weekly decline versus the US dollar since September of last year. It broke a consolidation range and tumbled, negating the bullish bias.

Analysts at Credit Suisse warn the weekly close around current levels would introduce a bearish view. “A weekly closing beak below the key band of support at the year to date lows at 0.7551/31 and the 200-day average would complete a large top to reverse us into a medium-term bearish view, with the next initial support seen at 0.7461, then the 23.6% retracement of the entire up move from 2020 at 0.7418.”

Technical levels

AUD/USD

Overview
Today last price 0.75
Today Daily Change -0.0053
Today Daily Change % -0.70
Today daily open 0.7553
 
Trends
Daily SMA20 0.7716
Daily SMA50 0.7735
Daily SMA100 0.7725
Daily SMA200 0.7554
 
Levels
Previous Daily High 0.7647
Previous Daily Low 0.7539
Previous Weekly High 0.7794
Previous Weekly Low 0.7687
Previous Monthly High 0.7892
Previous Monthly Low 0.7674
Daily Fibonacci 38.2% 0.758
Daily Fibonacci 61.8% 0.7606
Daily Pivot Point S1 0.7512
Daily Pivot Point S2 0.7472
Daily Pivot Point S3 0.7405
Daily Pivot Point R1 0.762
Daily Pivot Point R2 0.7687
Daily Pivot Point R3 0.7728

 

 

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