AUD/USD Falls Below 200-Day SMA
The Australian dollar is among the worst performers on Wednesday, having fallen below the 200-day SMA in recent dealings.
AUD/USD slid
to a fresh low of 0.7254 at the beginning of the American session as
the Aussie continues to suffer on the back of lower Australian wage
growth. Despite a recovery attempt seen during the European session, the
pair resumed the decline after being capped by the 0.7290 zone. At time
of writing, AUD/USD is trading at 0.7257, still 0.90% below its opening
price.
AUD/USD levels to watch
In terms of technical levels, AUD/USD could find next supports at 0.7200
(psychological level) and 0.7164 (Mar 2 low) ahead of 0.7108 (Mar 1
low). On the flip side, next resistances could be found at 0.7330 (May
18 high), 0.7339 (100-day SMA) and 0.7379 (May 12 high).
