- S&P lowers Australia's sovereign credit outlook down to negative from stable.
- AUD/USD slumps around 60 pips from 0.7529 levels to 0.7466.
- The pair has recovered from lows to currently retake the 0.75 hande.
- Strong support by 100-DMA at 0.7450, break below could see test of 0.7365.
- Resistance on the upside lies at 0.7500 (5-DMA), 0.7538 (session high) and 0.7545 (July 4th and 5th high).
The material has been provided by InstaForex Company – www.instaforex.com