AUD/USD falls to the lows for the week as the choppy price action continues

Technical Analysis

Author: Justin Low | audusd

AUD/USD eases back below 0.7600 as the dollar firms

AUD/USD H1 09-04
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It is a lively start to European morning trade as slightly higher yields is underpinning the dollar across the board, and is pushing AUD/USD to the lows for the week now.

The pair is trading back under 0.7600 and testing the swing region around 0.7592-96 as the choppy price action this week continues to play out.

Topside continues to be limited around 0.7656-64 and that put a lid on gains earlier in the day with buyers and sellers still largely dueling around the 100-day moving average since last week. The key technical level is seen @ 0.7644 currently.

While buyers look to struggle to breach short-term resistance around 0.7656-64, sellers aren't able to push their agenda as well.

The 2 February low @ 0.7564 is the key level to watch on the daily chart and sellers need a close below that to try and extend any further downside pressure in the pair.

Beyond that, the 1 April low @ 0.7532 will also offer another support level for buyers to latch on to before looking towards the 21 December low @ 0.7462.

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