FXStreet reports that in opinion of FX Strategists at UOB Group, AUD/USD’s downside is expected to meet the next support at 0.7450.

24-hour view: “While we expected AUD to weaken yesterday, we were of the view that ‘0.7450 is likely out of reach’. Our view was not wrong as AUD dropped to 0.7461 before closing on a soft note at 0.7471 (-0.38%). Despite the decline, downward momentum has not improved by much. That said, there is room for AUD dip below 0.7450 but it is unlikely able to maintain a foothold below this level. The next support at 0.7410 is unlikely to come into the picture. On the upside, a break of 0.7495 (minor resistance is at 0.7480) would indicate that the current downward pressure has eased.”