AUDUSD’s downside movement from 0.6933 extended to as low as 0.6699.
AUDUSD’s downside movement from 0.6933 extended to as low as 0.6699. As long as the price is in the falling price channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 0.6650 area.
On the upside, a breakout of the channel resistance would indicate that the downtrend is complete, then further rally to 0.6820 area could be seen.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
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