AUD/USD stays in a falling price channel on the daily chart and remains in the downtrend from 0.7295. As long as the price is in the channel, the downside movement could be expected to continue and next target would be at 0.6900 area.
AUD/USD stays in a falling price channel on the daily chart and remains in the downtrend from 0.7295. As long as the price is in the channel, the downside movement could be expected to continue and next target would be at 0.6900 area.
Key resistance is at 07206, only a break above this level would indicate that the downside movement had completed at 0.7003 already, then the following upside move could take the price to the 0.7350 area.
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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