3 May 2016
AUD/USD takes a breather, back to 0.7500
The Australian dollar is among the worst performers on Tuesday, having dropped more than pips against the greenback after the Reserve Bank of Australia unexpectedly cut rates.
AUD/USD has lost more than two cents, falling from a 6-day high of 0.7719 to a 1-month low of 0.7489 struck during the New York session. The pair is presently taking a breather, having recovered slightly from lows to trade around 0.7505, still down 2.1% on the day.
AUD/USD levels to watch
As for technical levels, next supports are seen at 0.7476 (Mar 24 low), 0.7414 (Mar 16 low) and 0.7390 (Mar 7 low). On the other hand, resistances could be found at 0.7548 (50-day SMA), 0.7662 (20-day SMA) and 0.7719 (May 3 high).
AUD/USD has lost more than two cents, falling from a 6-day high of 0.7719 to a 1-month low of 0.7489 struck during the New York session. The pair is presently taking a breather, having recovered slightly from lows to trade around 0.7505, still down 2.1% on the day.
AUD/USD levels to watch
As for technical levels, next supports are seen at 0.7476 (Mar 24 low), 0.7414 (Mar 16 low) and 0.7390 (Mar 7 low). On the other hand, resistances could be found at 0.7548 (50-day SMA), 0.7662 (20-day SMA) and 0.7719 (May 3 high).