- AUD/USD declined on Thursday as Australian dollar was weighted down on disappointing Chinese trade data and expectations that Federal Reserve will raise interest rates in December.
- The pair remains under bears control unless until it trades below 0.7630 resistance level, therefore it is good to sell this pair on rallies.
- To the upside, immediate resistance can be seen at 0.7590, a break above this level would take the pair towards next resistance level at 0.7630.
- To the downside immediate support can be seen at 0.7549, a break below this level will open the door towards next level at 0.7505.
Resistance Levels
R1: 0.7590 (61.8% Retracement level)
R2: 0.7630 (October 10th high)
R3: 0.7692 (October 4th high)
Support Levels
S1: 0.7549 (50% Retracement level)
S2: 0.7505 (38.2% Retracement level)
S3: 0.7454 (23.6% Retracement level)