- The AUD/USD declined on Thursday after upbeat U.S. factory data and two more Federal Reserve officials pushed towards the case for a rate hike boosting the greenback.
- Currently, the currency pair is trading at 0.7614 levels, it is set to decline towards 0.7580 and 0.7540 levels in the short term.
- Short pullback around 0.7640 should be taken as selling opportunities, as Australian dollar is weaker against the US dollar in intraday trading.
- To the upside, the strong resistance can be seen at 0.7652, a break above this level would take the pair towards next resistance level at 0.7723.
- To the downside immediate support can be seen at 0.7590, a break below this level will open the door towards next level at 0.7552.
Resistance Levels
R1: 0.7621 (50% Retracement level)
R2: 0.7652 (61.8% Retracement level)
R3: 0.7723 (Psychological levels)
Support Levels
S1: 0.7590 (38.2% Retracement level)
S2: 0.7552 (23.6% Retracement level)
S3: 0.7500 (Psychological levels)