AUD/USD at a crossroad, threatens 0.7490 swing low

Broad-based US Dollar strength is weighing on the AUD/USD pair, last trading circa 0.75 round number, having posted a session low of 0.7493, which represents a new 1-month low.

Today's calendar in the Asian session is vacant, with no data of interest for AUD/USD traders. Nonetheless, it will be worth keeping an eye on the fluid situation in Syria and North Korea as geo-political risks continue on the rise, while at the same time, the PBOC fixing and liquidity injections may have a smal impact on price action. Besides, since AUD/USD is at a key technical level at 0.7490 (swing low March 9th), some technical-led flows may also be present. 

AUD/USD technicals

Jim Langlands, Principal at FXCharts, notes: "Having now broken and closed below the 100 DMA, a continuing heavy bias would seem the most likely outcome on Monday, with the Aud looking as though it could actually see an acceleration in its current move lower. The daily charts still look soft, and below the 0.7490  could then head towards support at 0.7455, a break of which would then only find minor support until we reach 0.7385 (61.8% of 0.7160/0.7749). Further out, it may be that we are in the process of heading toward rising trend support at around 0.7260. On the topside, the initial resistance will be seen at 0.7525 and then at 0.7545, which if seen would seem to be a decent sell area, with a SL placed above 0.7580."