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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