AUD/USD breaches 50-DMA support, drops below 0.76 handle

AUD/USD extended losses to print a session low below 50-DMA support of 0.7617 amid the broad based risk aversion in the markets.

Breaks below weekly 10-MA

At 0.7590, the pair is trading below the weekly 10-MA level of 0.7605 levels. Heightened prospects of Trump victory triggered a wave of risk aversion as widely expected.

That is taking a toll on the Aussie and other risk currencies. Meanwhile, the safe haven currencies are on the rise.

AUD/USD Technical Levels

Key Support levels – 0.7583 (previous week’s low), 0.7558 (Oct 28 low), 0.7504 (200-DMA)

Key resistance levels – 0.7616 (50-DMA), 0.7657 (10-DMA), 0.7689 (5-DMA)