AUDUSD extended its downside movement from 0.8135 to as low as 0.7514. As long as the price is below the falling trend line on the daily chart, the downside movement could be expected to continue and a decline to test 0.7500 support is possible
AUDUSD extended its downside movement from 0.8135 to as low as 0.7514.
As long as the price is below the falling trend line on the daily chart, the downside movement could be expected to continue and a decline deeper to test 0.7500 support is possible.
A breakdown below this level could trigger downside movement towards 0.7350. Only a clear break above the trend line resistance could signal completion of the downtrend.
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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