AUD/USD: testing major Fibo support, 38.2% retracement of this year's early rally - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair extended its decline down to 0.7452 this Friday, finally paring losses at a major Fibonacci support, the 38.2% retracement of this year's early rally.

Key Quotes:

"The level attracted buying interest, sending the pair up to the 0.7500 handle,  as the greenback fell alongside with US stocks. The modest bounce is not enough to confirm further Aussie recoveries, but indicates that in the longer run the downside is well limited."