AUD/USD’s fall from 0.7897 extended to as low as 0.7795. Further decline is still possible and next target would be at 0.7732 previous low, followed by the resistance-turned-support trend line on the weekly chart now at around 0.7690.
AUD/USD’s fall from 0.7897 extended to as low as 0.7795. Further decline is still possible and the next target would be at 0.7732 previous low, followed by the resistance-turned-support trend line on the weekly chart now at around 0.7690.
Near term resistance is at 0.7835. Only a break above this level could bring the price back to test 0.7897 resistance. Above this level could signal resumption of the uptrend from 0.7732, then the next target would be at 0.7986.
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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