AUD USD Came under pressure in Forex market
4/26/2017 2:50:58 PM
During Forex market activities, the AUD/USD pair stayed under slight selling pressure, although has succeeded to recoil from the area of key 0.7503 psychological mark and is currently trading around 0.7526 area.
Bears would be eyeing for a crucial decline through the 0.7500 handle, below which the pair is probable to speed up the slide towards 0.7477 strong horizontal support on the way 0.7428 horizontal support.
On the upside, any recovery effort now appears to provoke strong hurdle near mid-0.7480s, which if cleared might cause a short-covering rally towards 0.7583 intermediate persistence ahead of the 0.7615 handle.
FOREX market analysis by FxErvin.