AUD/USD: Having the pair halted its upside pressure to close lower on Thursday, further weakness is envisaged. On the downside, support resides at the 0.7450 level where a breach will aim at the 0.7400 level. Below that level will set the stage for a run at the 0.7350 level with a cut through here targeting further downside pressure towards the 0.7300 level. On the upside, resistance lies at the 0.7550 level. A cut through here will turn attention to the 0.7600 level and then the 0.7650 level where a violation will set the stage for a retarget of the 0.7700 level.
On the whole, AUDUSD remains biased to the downside medium term.
Comments
Log in or sign up to join the conversation.