Broad-Based USD Strength Continues to Weigh on AUDUSD Beneath 0.7300 Level

Broad-Based USD Strength Continues to Weigh on AUDUSD Beneath 0.7300 Level

AUDUSD Price Analysis – September 3

The AUDUSD pair, which ended the prior two days in the negative territory, enlarged its daily fall and fell to 0.7296 level as broad-based USD strength continues to weigh on the AUDUSD under 0.7300 level. As of writing, the pair was down 0.55 percent daily.

Key Levels
Resistance Levels: 0.7620.7413, 0.7311
Support Levels: 0.7203, 0.7150, 0.7076
AUDUSD Long term Trend: Bullish
On the daily charts, AUDUSD slight support at 7311/00 levels is breached but beneath here aims to the next level of support of 0.7275 is continuing with moving average support of 13 at 7260/50 level remaining intact.

The daily Relative Strength Index (RSI) points lower, to test the midline range, currently trading at around 57. That indicates the downside has more room. Furthermore, the sellers aim towards the initial support for the bullish moving average 13 at the 0.7260 marks.
AUDUSD Short term Trend: Ranging
AUDUSD intraday bias stays neutral for consolidation underneath the temporary top level of 0.7413. The forecast for the near term may range as long as the support level holds at 0.7150. The 0.7413 level breach may restart a wider increase from the next long term level of 0.5506 to 0.7620.

Steadily the exchange rate advances to a support segment created at 0.7275 level by the horizontal support. If the support segment holds, bulls within this session may propel the currency exchange rate higher. If the AUDUSD pair shatters the support level, even so, a fall toward the area of 0.7250 may be initially expected.

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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