The US Dollar continues to surge higher across the board. AUD/USD stands out with a drop toward 0.75, changing hands at the lowest since December. The aussie could fall to the 0.7493 mark, according to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank.
AUD/USD has dropped to support at 0.7552/33
“AUD/USD tumbled to between the 200-day moving average at 0.7552 and the 0.7533 April low. If this minor support area were to be slid through, the late December low at 0.7463 would be next in line.
“Initial resistance above the 0.7646 early June low lies at the 0.7675/91 April 22 to May lows as well as along the 55-day moving average at 0.7725.”