AUD/USD Drops to 0.7280, Session Lows
The Aussie dollar depreciating further on Friday, relegating AUD/USD to the area of daily lows in the 0.7280 region.
AUD/USD lower on USD-bids
The pair is sharply lower today, trading in levels last seen in early
March around 0.7280 in response to the re-emergence of the sentiment
towards the greenback, poor performance of equity markets in Oz and
market chatter regarding the likeliness of another rate cut by the RBA.
Next on tap will be US Retail Sales, seconded by Business Inventories
and the Consumer Sentiment tracked by the Reuters/Michigan index.
AUD/USD levels to watch
At the moment the pair is dropping 0.59% at 0.7281 and a breakdown of
0.7260 (200-day sma) would open the door to 0.7210 (61.8% Fibo of
0.6828-0.7836) and then 0.7105 (low Feb.29). On the other hand, the next
up barrier lines up at 0.7341 (100-day sma) ahead of 0.7449 (38.2% Fibo
of 0.6828-0.7836) and finally 0.7543 (20-day sma).
