Aussie at Key Support Level , Vulnerable below 0.75400

Post the RBA cut the Aussie is now at a Key Trendline Support Level with further confluence from Horizontal Support. Should it break below 0.75400 and further break the Psychological 0.7500 figure it opens up further downside to the 38.2% Fibonacci Retracement around 0.74500 and then further the 50% retracement around 0.73300. However it has already moved around 150 pips downwards so a hold at current levels ( presently at 0.75650 ) and some further USD weakness could see it continue upwards in the current Channel .

AUDUSD Chart

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Forex Broker Vantage FX Pty Ltd does not contain a record of our prices, spreads or solicitation to trade. All opinions, news, research, prices or other information is provided as general news and marketing communication – not as investment advice. Consequently any person acting on it does so entirely at their own risk. The experts writers express their personal opinions and will not assume any responsibility whatsoever for the actions of the reader. We always aim for maximum accuracy and timeliness, secure Forex Broker Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.

Social

Free Daily Market Update

Live Spreads

SymbolBidAskSpread

Spread

Sign up to the latest forex news and daily FX trading setups

Get started with a FREE $50,000 demo account