AUDUSD broke below the rising price channel, suggesting that the upside movement from 0.5507 had completed at 0.7413 already. A further decline could be expected in a couple of weeks, and the next target would be at the 0.6800 area.
AUDUSD broke below the rising price channel on the daily chart, suggesting that the upside movement from 0.5507 had completed at 0.7413 already.
A further decline could be expected in a couple of weeks, and the next target would be at the 0.6800 area. Near term resistance is at 0.7200, and a breakout of this level could trigger another rise towards 0.7600.
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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