AUD/USD dips below 0.7200

By FXStreet FXStreet (Córdoba) – AUD/USD is retreating for third day in a row after being rejected from a 1-month peak earlier this week, weighed by a sharp sell-off in Chinese stocks on Friday.

AUD/USD has lost nearly a full cent over the last sessions, dipping below the 100-day SMA to hit a low of 0.7194 before finding support. The pair has spent last hours in a slim range near lows, and it was last down 0.36% at 0.7198.

Next week, the Reserve Bank of Australia will decide on monetary policy, with expectations pointing to no change at the interest rate to remain at 2.0%.

AUD/USD technical levels

In terms of technical levels, AUD/USD could find next supports at 0.7185/84 (10-day SMA/Nov 24 low), 0.7158 (Nov 23 low) and 0.7102/00 (Nov 19 low/psychological level). On the other hand, resistances are seen at 0.7262 (Nov 22 high), 0.7282 (Nov 25 high), 0.7295 (Oct 23 high) and 0.7337 (Oct 16 high).
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Source:: FX Street