AUD/USD (current price: 0.7621)
The Australian Dollar had a strong run-up against the USD in recent weeks after breaking above the 200-day MA in the first days of March. The pair reached 0.765 following the FED decision, and looks to be starting a correction since then, with the MACD in overbought territory. A re-test of the short-term advancing trend-line that coincides with a support zone near 0.74 looks possible here. If AUD/USD manages to hold above the 200-day MA, currently at 0.725, the new bullish long-term trend will be confirmed.
Our assessment: All eyes will be on the 0.74 level in the coming sessions, as the pair looks set to continue the correction that began on Thursday.
