#AUDUSD @ 0.67240 bears are moving in with a focus on 0.6720.
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
- AUD/USD bears are moving in with a focus on 0.6720.
- A break of 0.6720 opens the risk to 0.6680.
AUD/USD is flat in Tokyo after moving between a low of 0.6735 and a high of 0.6745 after a move lower in the greenback that enabled the high beta currencies to rally. However, technically, the market is turning bearish again while below 0.6750 within the recent ranges as the following will illustrate:
AUD/USD has been reaching 0.6750 as it grinds along the bullish trendline support on top of the 0.6680-0.6700 structure.
Zooming down to the 4-hour chart and into the current price action, we can see a W-formation in play that is pulling the price back towards the neckline. 0.6720 will be key in this regard. A break of support could see the price dig into the trendline and if that were to give, the focus will be on a move below 0.6700 and eyes on 0.6680.
[/s2If]
Join Our Telegram Group
