AUDUSD Broader Bias Remains Lower Long Term.

18 February 2020, 13:37

AUDUSD looks to extend further lower on its bearishness as it retains its long term weakness. On the downside, support comes in at the 1.6661 level. A cut through here will turn focus to the 0.6600 level and then the 0.6550 level. A violation will set the stage for a retarget of the 0.6500 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 0.6700 level where a breach will aim at the 0.6750 level. Below here will open the door for a run at the 0.6800 level and then the 0.6850 level. On the whole, AUDUSD faces further downside threats short term.

Share it with friends: