AUDUSD Breaks the 50 Day MA

AUDUSD trades 0.34 percent lower at 0.6947 close to daily low and making fresh 2 week lows, after The National Australia Bank’s Business Conditions came in at 3 in June matching expectations. Aussie business confidence index fell to 2 in June as analysts’ expected from 7 in May. The ANZ-Roy Morgan Australian Consumer Confidence index came in at 1.1% percent below the previous week reading.

AUDUSD currently is trading close to daily low at 0.6945 after the pair breached the 50 day moving average, on the upside the pair will face the first important resistance at 0.7026 the 100 day moving average and if breached can extend the rebound up 0.7095 and the 200 day moving average. On the downside first support now stands at 0.6928 the low from June 24th while more bids will emerge at 0.6830 the low from June 18th.Don’t miss a beat! Follow us on Twitter.