AUDUSD targets 0.8659 , Resistance 0.8850/0.8915 !

Minors - 956854 (1)

The AUDUSD maintained a bearish momentum yesterday, topped at the 0.8825 levels and bottomed at the 0.8725 levels. This development leaves the pair targeting the 0.8659 levels, a cut will turn the focus on the 0.8585 levels, furthermore will aim the 0.8390 levels.

On the upside, stability above the 0.8725 could mean a return to the 0.8825/0.8850 levels, break of 0.8850 will signal short term bottoming, If seen the pair is likely to recapture the 0.8915 levels, a halt is suggested but a breach will call for a run to the  0.9085 levels.

In all, the AUDUSD is likely to retain to its medium-term downside bias as long as resistance 0.8850/0.8915 holds on a daily closing basis, above this level will turn outlook neutral and bring consolidations.

 

AUDUSD targets 0_8659 , Resistance 0_8850_0_8915 !

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