AUD/USD Slumps to Lows Near 0.7460
The Aussie dollar is now depreciating further, dragging AUD/USD to visit fresh lows in the 0.7460 area.
AUD/USD lower as risk-on deflates
AUD saw its offered tone intensified today, as the now deeper correction in crude oil prices continue to hurt the risk-associated space. Spot is thus giving away more than a cent since yesterday’s multi-month peaks in the proximity of the 0.7600 limestone.
Previously, the RBA minutes showed the central bank has no additional concerns over China, while it remains comfortable with its current ‘wait-and-see’ bias.
AUD/USD levels to watch
At the moment the pair is losing 0.65% at 0.7466 and a break below 0.7412 (23.6% Fibo of 0.6824-0.7594) would aim for 0.7314 (20-day sma) and then 0.7246 (200-day sma). On the other hand, the next up barrier lines up at 0.7596 (high mar.14) followed by 0.7851 (monthly high Jun.18 2015) and then 0.7940 (monthly high Mar.24 2015).
(Market News Provided by FXstreet)
