AUD/USD Risk Remains Lower Towards 0.6700 Support Zone

FXAssure • by Mohammed Isah

Forex Trades • Sep 26, 2019 at 5:36 PM EDT

AUD/USD threatens further downside pressure as it looks to decline further towards the 0.6700 support zone. On the downside, resistance lies at the 1.6650 level.

AUD/USD threatens further downside pressure as it looks to decline further towards the 0.6700 support zone. On the downside, resistance lies at the 1.6650 level. A cut through here will turn focus to the 0.6600 level and then the 0.6550 level where a violation will set the stage for a retarget of the 0.6500 level. Its daily RSI is bearish and pointing lower suggesting further weakness.

Conversely, resistance lies at the 0.6800 level where a breach will aim at the 0.6850 level. Below here will open the door for a run at the 0.6900 level and then the 0.6950 level. On the whole, AUD/USD faces further downside threats

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