AUDUSD: Bearish, Weakens

Commercial Content Analysts
1

AUDUSD: With AUDUSD seen reversing its recovery attempts on Thursday, there is risk of further downside. Support comes in at the 0.9592 level where a break will target the 0.9500 level. Other supports are located at the 0.9450 level and the 0.9400 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, immediate resistance resides at the 0.9700 level followed by the 0.9800 level and then the 0.9851 level. Further out, resistance resides at the 0.9900. All in all, the pair remains biased to the downside medium term.

2

I agree that it will go further down as also the candle is signaling…(my understanding on price action also suggests this…) but we may still look for entry at this may be for a 10-15 pips down…(not for a day trading)

3

Hi,

I totally agree with u.

4

Yeah, exactly, you have posted the informative post. It really helped me ahead.