AUD/USD remains heavily offered, decline to the weekly low

FXStreet — The AUD/USD remains under selling pressure, after he previously the very important 200-day SMA failed.

Currently, the trade takes place to 0,7470, and here the entire week, there were reduced profits, while copper prices fell sharply, what currencies, commodities like the AUD put some weight on.

Add to that the moderate recovery of the US Treasury bond yields, the US Dollar Index in the vicinity of the 99,00 rise.

The focus remains today on the long-awaited FOMC decision. In General, it is expected that with an unchanged monetary policy, but hints on further Fed interest rate increases have an influence on the higher-yielding currencies such as the Aussie.

From the USA there is still the ADP labour market report and the ISM non-manufacturing PMI.

Technical Prospects

Supports lie at 0,7450-40, 0,7400 and 0,7375-70. On the other hand, Resistances at 0.75, 0,7525-30, the 200-day SMA in the middle of the 0,7500 and at the 50-day MA in the vicinity of the 0,7585.

** FXStreet News Editorial, FXStreet**

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