AUD USD turned suddenly lower
11/15/2016 9:24:25 AM
The AUD/USD pair faded RBA minutes-led bullish spike and turned suddenly lower, retreating over 40-pips from session peak level of 0.7580.
Currently trading at a fresh session low around 0.7535 level, the pair ran through fresh offers and removed early gains led by minutes of the RBA meeting in November, which revealed central bank's impartial stance among 'broadly balanced' inflation forecast and moderate step of economic growth.
Immediate support is fixed near 0.7520, which if broken is likely to drag the pair directly towards the very important 200-day SMA support near 0.7510 region before the pair finally breaks through 0.7500 psychological mark. On the upside, 0.7555 level now looks to act as immediate obstacle above which could dart back towards session high persistence near 0.7580 level before trying to test 100-day SMA persistence near 0.7595 region.
Fundamental Analysis
by FxErvin
