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AUD/USD – Major Support is Still Lower

AUD/USD – Major Support is Still Lower

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Remember, “AUD/USD has followed through on its outside week reversal (lower) so broad focus is still lower”…and “a bear flag has formed, suggesting that the broader move lower is resuming.” The last week or so of sideways trade is seen as nothing more than a pause until weakness resumes towards .7000.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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