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.
AUD/USD Daily Chart (weaking on big support)
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---Written by Paul Robinson, Market Analyst
You can follow Paul on Twitter at @PaulRobinsonFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.