AUD/USD Broader Bias Remains Lower Long Term

AUD/USD looks to extend further lower on its bearishness as it retains its long term weakness. On the downside, support comes in at the 1.6661 level. A cut through here will turn focus to the 0.6600 level and then the 0.6550 level. A violation will set the stage for a retarget of the 0.6500 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 0.6700 level where a breach will aim at the 0.6750 level. Below here will open the door for a run at the 0.6800 level and then the 0.6850 level. On the whole, AUD/USD faces further downside threats short term.

 

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