#AUDUSD @ 0.68244 bears are in the market controlling while on the front side of the bear trend.

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• AUD/USD bears are in the market controlling while on the front side of the bear trend.
• Last week’s lows are being tested that guard a run to test 0.6750/00.

AUD/USD ended mid-week with the second day of shorts in the market since the price was rejected at last Thursday’s highs on Monday’s initial balance highs.

We are breaking last week’s lows and while being on the front side of the bearish trend, there are prospects of a continuation of a third day of shorts. However, it might be a question of a correction first of all with 0.6850 eyed as resistance:

0.6750 is eyed while last month’s lows are a downside target on the way to a test of 0.6700 but if we see failures below last week’s lows and a firm bullish close above there, then longs will be in the market and the short positions vulnerable for a squeeze whereby 0.6920 will be closely eyed for a restest of bear’s commitments.

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