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AUD/USD Technical Outlook: Looking Like a Big Support Break Coming

AUD/USD Technical Outlook: Looking Like a Big Support Break Coming

Aussie is sitting on an important level of support that has been in play on numerous occasions the past couple of months. Looking for a closing candlestick below 7675 to act as a confirmation of a support break. In the event is does, then the April and low and 200-day right around 7530 will be targeted. Keep an eye on stocks/risk trade as this will influence how this all plays out. For the full set of details, see the video above.

USD Forecast
USD Forecast
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AUD/USD Daily Chart (weaking on big support)

aud/usd daily chart

AUD/USD Chart by TradingView

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---Written by Paul Robinson, Market Analyst

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