AUD/USD broke below the bottom of the price channel on the 4-hour chart, suggesting that the upside movement from 0.6831 had completed at 0.7034 already.
AUD/USD broke below the bottom of the price channel on the 4-hour chart, suggesting that the upside movement from 0.6831 had completed at 0.7034 already. Further decline is still possible after a minor consolidation and next target would be at 0.6920 area. Near term resistance is at 0.6980, above this level could bring the price back into 0.7000 zone.
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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