AUD/USD Back Below 0.7200
AUD/USD slid back below the 0.72 mark at the beginning of the New York session as the dollar strengthened slightly despite below expectations US GDP revision.
AUD/USD dropped below the 100-hour SMA and hit fresh daily low of 0.7195 before finding support. At time of writing, the pair is trading at 0.7197, recording a 0.39% loss on the day and on track to post its fifth weekly decline in a row.
AUD/USD levels to consider
In terms of technical levels, next supports are seen at 0.7162 (May
26 low), 0.7144 (May 24 low) and 0.7108 (Mar 1 low). On the flip side,
resistances could be found at 0.7253 (200-day SMA), 0.7330 (May 18 high)
ahead of 0.7344 (100-day SMA).