AUD/USD downside pauses at 38.2% Fib, short break below

FX:AUDUSD   Australian Dollar / U.S. Dollar
180 0 7
AUD/USD             downside stalls just shy of 38.2% Fib of Jan to April rise at 0.7450, further downside can be seen only on breaks below.

The pair has come under strong selling pressure following the somewhat surprising 25bp rate cut by the RBA on Tuesday to a new record low interest rate of 1.75%.

Also, CFTC futures data in the last few weeks showed massive AUD long commitment among asset managers which are being squared post policy meet, adding to the downside.

Technicals on daily charts are biased lower. Break below 38.2% Fib can see test of 0.7415, 0.74 and then 0.7340 (weekly cloud base).

The pair has edged above daily cloud top at 0.7486 and finds immediate resistance at 0.7560 ( trendline ).

Good to short breaks below 0.7450, target 0.7410/0.7340
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out