AUD USD Declines below the handle in Forex market
3/2/2017 2:16:55 PM
According to yesterday's unsuccessful effort to improve back above 0.7685, The AUD/USD pair came under some new selling pressure on Thursday.
Now trading around 0.7667 area, the pair jumped over fresh offers resulting the release of weaker than anticipated trade-balance data for January.
Bulls would be discouraged if the pair fails to maintain 0.7638 immediate support, below which the slide is likely to get expanded immediately towards 0.7613 horizontal support before the pair finally falls to 0.7527 support area. On the upside, momentum above 0.7673 immediate persistence could get expand, but might keep on to provoke strong persistence near 0.7685 round figure mark ahead of 0.7717 hurdle.
FOREX market analysis by FxErvin.