AUDUSD extended its downside movement from 0.7031 to as low as 0.6930.
AUDUSD extended its downside movement from 0.7031 to as low as 0.6930. Further decline is still possible after a minor consolidation and the target would be at the rising trend line on the 4-hour chart.
Near term resistance is at 0.6970, above this level could bring the price back towards 0.7000.
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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