AUD/USD remains in a downtrend from 0.8124. The bounce from 0.7732 is likely a correction of the downtrend. A further rally is likely be seen in the coming days with a target of 0.7986.
AUD/USD remains in a downtrend from 0.8124. The bounce from 0.7732 is likely a correction of the downtrend. A further rally is likely be seen in the coming days with a target of 0.7986.
However, the downtrend could be expected to resume after the correction. Another fall to test the support of the resistance-turned-support trend line on the weekly chart is still possible.
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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