AUD/USD Technical Analysis: April 10, 2017
The Australian dollar became weak on Friday along the sluggish statistics of Performance of Construction Index. Meanwhile, the risk off sentiment amid Asian session have put pressure on risk assets including treasury yields, equities, and the Aussie.
The pair continued to be well offered last Friday and resumed a negative sentiment throughout the day. The AUD leave the region 0.7550 during the night trades extending its bearish impetus within the day.
The sellers were able to reach the 0.7515 mark and rebounded. The major hovered over its session lows until the outset of North American hours.
As indicated in the 4-hour chart, the AUD/USD is positioned under the moving averages which shifted lower. Resistance holds 0.7550, support pierced into 0.7500.
The MACD histogram sustained its level affirming sellers’ strength. RSI indicator is found near the oversold territory which signaled a lover move.
Forecast says the pair would continue to decline within a short period of time. We still expect for a further move towards 0.7500.