AUD/USD falls to session lows as the dollar gains some modest ground

AUD/USD falls to a low of 0.7623 on the day

AUD/USD H1 06-04
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European equities may be soaring but the overall risk mood is less enthusiastic with US futures marked lower to start the session. S&P 500, Nasdaq, and Dow futures are all down 0.3% to the lows for the day and that is underpinning the dollar slightly.

AUD/USD has slipped by 0.3% to a low of 0.7623 after failing to push past the 30 March high of 0.7664 with near-term resistance seen around the region of 0.7655-64.

That puts some focus back on the key hourly moving averages @ 0.7613-15. Bear in mind that the 100-day moving average is seen @ 0.7635 with price action trading in and around that over the past week or so.

But going back to the near-term chart above, a break back below the key hourly moving averages and 0.7600 will start to put the focus on the head-and-shoulders neckline in AUD/USD once again. That level rests around the region of 0.7532-64.


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