AUD/USD: remains under pressure below 200 dma

Currently, AUD/USD is trading below the 200 dma still at 0.7476, down -1.09% on the day, having posted a daily high at 0.7573 and low at 0.7460.

Copper: High prices, high demand expectations – Goldman Sachs

AUD/USD remains under pressure with the US dollar gaining traction again on the up side and taking the Aussie to the lowest levels since 14th Sep.

Analysts at Brown Brothers Harriman explained that the dollar’s surge since the election reflects three considerations:

"The first is the likely December Fed hike.  Prior to the election, the market was assessing around a two-thirds chance.  Now both the CME and Bloomberg's WIRP estimate the odds above 90%.  Investors have also increased the anticipated path of the Fed next year as well.  
Second (and partly related), the new US Administration has promised significant fiscal support on par with the February 2009 package delivered near the low point of a deep downturn.  Of course, there is more unknown than known at this juncture.  However, it does seem that some measure of fiscal stimulus will be forthcoming.  Both candidates had promised it, and Trump's proposal was larger.  The Democrats may support the spending increases and the Republicans the tax cuts.  More broadly, a pattern may be emerging where fiscal policy is no longer taboo, though the EC apparently has not gotten the memo.  

Third, another pattern that is influencing investment is the rise of the populist right.  Europe is particularly vulnerable.  The calendar is not particularly kind, with the Italian referendum and Austrian Presidential (do-over) election in early December.  The Dutch go the polls in early spring.  These events are like a dress rehearsal for the French presidential election.  Le Pen is running strong and, given the disrepair of the Socialist Party, is expected to make it to the run-off to face the Republican candidate (first round of the first primary is this coming weekend)."

AUD/USD remains bearish, could test 0.7440 – UOB

AUD/USD levels

The RSI shows downside momentum while spot is presently trading at 0.7477, and next resistance can be seen at 0.7481 (Daily Classic S2), 0.7511 (Daily 200 SMA), 0.7512 (Yesterday's Low), 0.7517 (Hourly 20 EMA) and 0.7520 (Daily Classic S1).Next support to the downside can be found at 0.7460 (Daily Low), 0.7453 (Weekly Classic S1), 0.7449 (Daily Classic S3), 0.7362 (Weekly Classic S2) and 0.7198 (Weekly Classic S3).