AUDUSD broke below 0.6585 support and extended its downside movement from 0.6749 to as low as 0.6542.
AUDUSD broke below 0.6585 support and extended its downside movement from 0.6749 to as low as 0.6542.
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 0.6500 area, only break above the channel resistance could signal completion of the downtrend.
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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