AUD/USD Price Analysis: Bears And Bulls About To Standoff At Key 0.6850s

AUD/USD has stalled on the bid and has been making tracks to the downside in the last couple of hours in the hunt for territory below 0.685o lows. The pair needs to get below there or face immediate p[pressures to the upside for the bulls searching for money above 0.6920. The following illustrates the market structure and the developments over the course of this week's template and arrives at a semi-bullish bias for the end of the week. 


AUD/USD H1 chart

(Click on image to enlarge)

AUD/USD has been in the hands of the bears throughout the course of this week with 0.6850 standing in the way of the final push lower. However, given the build-up of shorts, this could be an overstretched position in the spot market and it might warrant a sizeable correction to balance the books into the weekend: 

(Click on image to enlarge)


More By This Author:

AUD/USD Price Analysis: Bulls Are Forced To The Edge Of The Abyss
NZD/USD Remains Heavily Offered Below 0.6300, Hangs Near Monthly Low Amid Stronger USD
GBP/JPY Flat-Lines Above Mid-160.00s, Eyes Nearly Two-Week High Touched On Monday

Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...

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