FXStreet (Mumbai) - The selling pressure on the AUD intensified in the European morning, knocking-off AUD/USD to fresh session lows below 0.72 handle. AUD/USD drops to 50-DMA Currently, the AUD/USD pair trades -0.28% lower at fresh session lows of 0.7193, heading for a retest of Tuesday’s low struck at 0.7184. Having faced rejection at 20-DMA in mid-Asia, the Aussie keeps pushing lower and now surrenders 0.72 handle on the back of a renewed bout of risk-aversion after the European stocks turned negative following an upbeat start. The German DAX now loses -0.25% versus +0.30% previously while the UK’s FTSE dips -0.10 versus +0.40% in opening trades. The Australian dollar also ran fresh supply against its American counterpart as attention now turns to the crucial jobs report from the OZ nation, with markets expecting a weaker labour market report. Markets are expected a sharp reversal in November after strong number reported in Oct. ------- What will 2016 bring to the Forex traders? Attend our Forex Forecast 2016 - The Panel with Ashraf Laidi, Valeria Bednarik, Boris Schlossberg, Adam Button, Ivan Delgado and Dale Pinkert. Register for the live event on Dec. 18th and get the recording too. ------- AUD/USD Levels to watch The pair slips below 0.72 handle with the immediate support is seen at 0.7184 (Dec 8 low). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7164 (100-DMA). On the flip side, the immediate resistance seen at 0.7237/39 (daily high/ 20-DMA) above which gains could be extended to the next hurdle located at 0.7278 (10-DMA). For more information, read our latest forex news.