The AUD/USD
has had a well-sustained bearish trend, tracing lower lows along the way. On
the daily chart we can see that below the 0.7000 level the pair was
consolidated to continue going lower and making a lower low. This time the
price breaks below the 0.6900 level. On the last few daily candles we can see
that the price is trying to retrace to the upside, but that retracement is kind
of losing its momentum. Price may continue going lower, but the 0.6800 level
could become a support.
The downtrend looks intact.
ReplyDeleteBearish trend continues.
ReplyDeleteIt found some support at 0.6825.
ReplyDeleteStrong bearish sentiment.
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteVery useful analysis, thank you.
ReplyDeleteInteresting levels to be watchful of, thanks for the info.
ReplyDeleteGood article.
ReplyDeleteVery useful information.
ReplyDelete