AUD/USD: 0.7450 to come under pressure? - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair ends the day pretty much flat around 0.7610, after trading as low as 0.7788 by the end of the Asian session, still looking vulnerable towards the downside as it continues pressuring the 0.7600 level after failing to hold on to gains above 0.7700.

Key Quotes:

"The pair has now the potential to retest the 0.7450 level, a major Fibonacci support, the 38.2% retracement of this year early rally. In the meantime, the technical picture is neutral, with investors holding their breath ahead of more clues coming from US Yellen. In the 1 hour chart, the price is hovering around a horizontal 20 SMA, while indicators turned modestly bearish around their mid-lines, in line with a downward extension."