AUD/USD Price Analysis: Technical outlook
The AUD/USD diving to a new four-day low opened the door for a deeper pullback after failing to reclaim the 200-day moving average (DMA) at 0.6560. If sellers push the spot price below the 0.6500 figure, a leg-down is seen with the next support level at the February 5 low of 0.6468, followed by the February 13 cycle low of 0.6442. Traders must be aware of this key level, as the pair could drop to 0.6400. Otherwise if buyers lift the exchange rate above the 200-DMA, look for a test of the 0.6600 mark.
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