AUDUSD drops to fresh weekly lows

6:29 PM April 30, 2021

AUDUSD pair was trading in a relatively tight range around 0.7770 during the European session, however bears became active during the  American trading hours and pushed the pair to a fresh weekly lows. It seems that month-end flows and today's macroeconomic data releases strengthened US currency. The US Dollar Index reached its highest level since April 23 at 91.28.

AUDUSD pair broke below the lower limit of the triangle pattern and is testing local support at 0.7705. Should break lower occur, then the next target for bears lies at 0.7654. On the other hand, if buyers will manage to halt declines here, then another upward impulse towards resistance at 0.7757 may be launched. Source: xStation5


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