AUDUSD’s downside movement from 0.7729 extended to as low as 0.7535. Near-term, resistance is at the falling trend line on the 4-hour chart.
AUDUSD’s downside movement from 0.7729 extended to as low as 0.7535. Near-term, resistance is at the falling trend line on the 4-hour chart.
As long as the price is below the trend line, the downside movement could be expected to continue and next target would be at 0.7328.
On the upside, a clear break above the trend line resistance could bring the price back to next resistance level at 0.7610. Above this level could trigger further upside movement towards 0.7650.
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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