AUD/USD Vulnerable, Targets Further Weakness

Forex Trades • Nov 26, 2019 at 2:20 PM EST

AUD/USD threatens further downside pressure as it looks to weaken further lower in the days ahead. On the downside, support comes in at the 1.6750 level.

AUD/USD threatens further downside pressure as it looks to weaken further lower in the days ahead. On the downside, support comes in at the 1.6750 level. A cut through here will turn focus to the 0.6700 level and then the 0.6650 level. A violation will set the stage for a retarget of the 0.6600 level.

Conversely, resistance lies at the 0.6850 level where a breach will aim at the 0.6900 level. Below here will open the door for a run at the 0.6950 level and then the 0.7000 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the whole, AUD/USD faces further upside threats on correction.

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