AUD/USD falls by nearly 1% as dollar firms on the softer risk mood

Technical Analysis

Author: Justin Low | audusd

AUD/USD starts to take a peek below key near-term levels

AUD/USD H1 01-04
ForexLive
The dollar and yen are leading gains in the currencies space, while the aussie just extended losses on the day to fall by nearly 1% now against the greenback.

Notably, the pair is now falling under its 100-hour MA (red line) and below the 0.6100 handle as sellers look to establish a more neutral near-term bias.

The move lower also sees price break below the near-term trendline support, which helped to limit losses since trading yesterday alongside the 100-hour MA.

There is some minor support around the 27 March low at 0.6024 next but the 0.6000 handle will be the key one to watch with the 200-hour MA (blue line) lurking nearby.

A break below that will see sellers regain further conviction and look for a shove back towards 0.58-0.59 levels potentially in the coming sessions.

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