AUDUSD Faces Recovery Threats Though Vulnerable

FXAssure • by Mohammed Isah

Forex Trades • Apr 29, 2019 at 2:31 PM EDT

On the whole, AUDUSD faces further downside threats but with caution of recovery.

AUDUSD faces recovery risk though vulnerable medium term.

On the upside, resistance lies at the 1.7100 level. A cut through here will turn attention to the 0.7150 level and then the 0.7200 level where a violation will set the stage for a retarget of the 0.7250 level.

Support resides at the 0.7000 level where a breach will aim at the 0.6950 level. Below here will set the stage for a run at the 0.6900 level with a cut through here targeting further downside pressure towards the 0.6850 level.

On the whole, AUDUSD faces further downside threats but with caution of recovery.

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