The Australian dollar fell through its latest support this morning, dipping below US74 cents.
Sellers have stayed in control in afternoon trade, and a short time ago the currency was down 0.45% to US US73.77 cents.
Here’s the latest chart from investing.com:
Falling commodity prices are likely to be weighing on the AUD, as futures markets just crashed again after falling heavily yesterday.
Combined with a steady US dollar ahead of a probable interest rate hike in June by the US Federal Reserve, the AUD/USD pair continues to be sold off.