AUD/USD drops to 5-DMA on ‘exit’ vote lead

Aussie dollar is feeling the heat of the EU referendum results, which as of now show ‘exit’ vote is leading by 4.9%.

AUD/USD dropped 100 odd pips to 5-DMA level of 0.7511. The pair currently trades on a weak footing around 0.7542. Much of the drop is due to a sharp falling GBP/AUD cross. Furthermore, Brexit threat is also strengthening the bid tone around US dollar.

AUD/USD Major levels

On the higher side – 0.7680, 0.7723, 0.7835

On the lower side – 0.7450, 0.7331, 0.7281