The dollar resumes uptrend, and the aussie is one of the poorer performers on the day
After finding a daily close below the year's lows and more importantly below the support level of the 76.4/23.6 retracement level @ 0.7652, things have gone from bad to worse for the aussie on the week.
The break of the level mentioned is key as mentioned on Monday here. And given the lack of support levels in between, getting to 0.7500 looks more like a question of when than if.
The only other level I see getting in the way of AUD/USD from touching the figure level is the 22 June low of 0.7535, but given the downside momentum the pair has been experiencing over the last week it's hard to see that get stopping the fall.
Looking at the bigger picture, the break of the long-term trendline support also doesn't bode well for the pair, and will only serve to give more conviction to sellers to drive the price lower from hereon.
