AUDUSD – will it find support around 0.6000

Australian Dollar broke below the psychological level of 0.6000 against the US dollar.

But with current market sentiment so overwhelming, it is hard to imagine that being the place where the pair sees a dramatic turnaround, but the levels around 0.59 should act as support.

Break above 0.625 will trigger higher targets – 9 March low around 0.6315. Next resistance is located at February’s low – 0.6434.

Support: 0.59-0.592
Support: 0.57420
Major Support: 0.55440
Resistance 1 : 0.625
Resistance 2: 0.6434

 Trader Georgi Bozhidarov

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