This weekend the Australian currency retreated to the US dollar after the comments were uttered by representatives of the Federal Reserve regarding a possible tightening of monetary policy. At the start of the week the dollar remained in the lead in relation to other currencies.
On Monday, the pair tested the 4-week low, but the tool AUD / USD was able to recover some of the previous losses at the end of the day. Resistance is located at 0.7600, support - at 0.7540.
MACD has decreased, which indicates the position gain sellers. RSI continued consolidation in the oversold zone.
The price is below the 50 EMA 100 EMA and the 200 EMA on the 4-hour chart. EMA-200 neutral, 50-EMA-EMA 100 intersects the bottom and the two lines are directed downwards.
AUD / USD Forecast for today
It can be expected that the pair AUD / USD will remain under pressure. Current decline is likely to continue to the 0.7470 mark.
Forex Analytics Fort Financial Services