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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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