AUD/USD outlook: Risk aversion pushes Aussie to two-month low

25 April 2022

Steep fall off 0.7661 (Apr 5 spike high) extends into fourth consecutive week, following last week’s acceleration that resulted in weekly loss of 2%. Fresh weakness in early Monday hit the lowest in nine weeks and tested solid support at 0.7148 (200WMA), after emerging below ascending daily cloud (spanned between 0.7204 and 0.7277).