AUD/USD Falls Below 200-Day SMA

AUD/USD Falls Below 200-Day SMA

18 May 2016, 15:26
Roberto Jacobs

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).


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