The commodity Aussie dollar has been hitting hard since June 06 high. Trade Tensions, policy divergence (Fed and RBA) and melting copper are the factors adding pressure to the commodity currency AUD.
AUDUSD was falling as far as 0.7350 its 61.8% fib reaction (0.6825-0.8135 rally) and closed at 0.7380. Intraday support finds at 0.7330 below this 0.7300 and 0.7240 exists. The daily study RSI has been making a higher low (kind of positive divergence) and the oscillator is remaining bearish.
In near-term the cross likely to remains between 0.7300-0.7500.
AUDUSD was falling as far as 0.7350 its 61.8% fib reaction (0.6825-0.8135 rally) and closed at 0.7380. Intraday support finds at 0.7330 below this 0.7300 and 0.7240 exists. The daily study RSI has been making a higher low (kind of positive divergence) and the oscillator is remaining bearish.
In near-term the cross likely to remains between 0.7300-0.7500.