AUD is trading in a limited range during Forex market
4/21/2017 10:38:36 AM
The AUD/USD pair retreated initial dip to session low near 0.7517 level but has tried to reclaim traction and stayed limited within 20-pips narrow trading range.
Decline below 0.7517 level might remain to find support near 0.7490 area, below which the pair is probable to aim towards 0.7473 horizontal support ahead of mid-0.7403s.
On the upside, any up-move might keep on to find persistence at 180-day SMA near mid-0.7490s, which if cleared might cause a short-covering rally beyond 0.7593 middle persistence, and the 0.7605 handle, towards 45-day SMA hurdle near 0.7617 area.
FOREX market analysis by FxErvin.