AUD/USD fails to hold above 0.7400

AUD/USD managed to trim some of the losses incurred last week, although the pair failed to consolidate above the 0.74 mark.

AUD/USD found support at the 10-day SMA and bounced after hitting a fresh 6-day low of 0.7358 during the Asian session. However, the pair found resistance at 0.7410, and pulled back below the psychological level. At time of writing, AUD/USD is trading at 0.7392, still up 0.16% on the day.

AUD/USD levels to watch

In terms of technical levels, next resistances could be found at 0.7410 (Jun 13 high), 0.7455 (50-day SMA) and and 0.7504 (Jun 9 high). On the flip side, supports are seen at 0.7358 (10-day SMA), 0.7315 (Jun 6 low) and 0.7264 (200-day SMA).