Aussie at Key Support Level , Vulnerable below 0.75400 | Vantage FX

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 .


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