AUD/USD Sharply Lower After Doha, Around 0.7660
The Aussie dollar is following the rest of the risk associated assets at the beginning of the week, sending AUD/USD to the lower end of the range near 0.7660.
AUD/USD finds support near 0.7640
The
pair is trading around a cent lower from last week’s fresh 2016 highs
near 0.7740 in the aftermath of the Doha meeting on Sunday, where oil
producers failed to seal a deal on an output freeze. News from the ‘no
deal’ have hurt risk sentiment, sending AUD to open the day with a significant gap lower.
While
risk trends are expected to dominate the headlines today, Governor
G.Stevens will give a speech tomorrow in an otherwise empty calendar in
Oz this week.
AUD/USD levels to watch
At
the moment the pair is retreating 0.85% at 0.7659 and a breach of 0.7610
(20-day sma) would expose 0.7522 (23.6% Fibo of 0.6824-0.7737) and then
0.7475 (low Mar.24). On the flip side, the next up barrier lines up at
0.7737 (2016 high Apr.14) ahead of 0.7739 (monthly high Jul.1 2015) and
finally 0.7851 (monthly high Jun.18 2015).
