AUD/USd bears eye the 1hr 200 SMA and 0.7200 level

By FXStreet FXStreet (Guatemala) – AUD/USD is currently trading at 0.7271 with a high of 0.7364 and a low of 0.7253.

AUD/USD has been inching lower throughout the US session as the lofty highs of late are going down over the hill instigated by the sell-off over night when the Chinese data in the trade balance and poor exports weighed on the commodity bloc, especially EM’s.

AUD/USD has lost hopes for the vicinity of the 0.74 handle and top of the 0.73 handle. The pair is now in free fall below the cluster of key MA’s on the hourly chart and bears will be targeting the key and psychological 0.7200 level and 200 SMA at 0.7188. The key events that will take place now are the jobs data from Australia and retails sale, industrial production, CPI’s and the beige book for the US.
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Source:: FX Street