AUDUSD: Weakens, Faces Further Bear Pressure

22 June 2017, 02:53

AUDUSD. The pair continues to hold on to its downside pressure leaving risk lower. On the downside, support resides at the 0.7500 level where a breach will aim at the 0.7450 level. Below that level will set the stage for a run at the 0.7400 level with a cut through here targeting further downside pressure towards the 0.7350 level. On the upside, resistance lies at the 0.7600 level. A cut  through here will turn attention to the 0.7650 level and then the 0.7700 level where a violation will set  the stage for a retarget of the 0.7750 level. On the  whole, AUDUSD remains biased to the downside nearer term.

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