The Aussie Dollar started a fresh decline from well above 0.7270 against the US Dollar. The AUD/USD pair traded below the 0.7225 support to move into a bearish zone.
The pair even traded below the 0.7200 level and the 50 hourly simple moving average. A low was formed near 0.7170 and is currently consolidating losses. An immediate resistance on the upside is near the 0.7185 level.
The next major resistance is near the 0.7200 level, above which the pair could rise steadily towards the 0.740 level in the near term. Any more gains could send the pair towards 0.7270 on FXOpen.
An immediate support on the downside is near the 0.7170 level. The next key support is near the 0.7150 level. A clear break below the 0.7150 support could lead the pair towards the 0.7100 support.
