AUDUSD under pressure – Resistance is at 0.9071 !

Minors - 956854 (1)

The AUD/USD continued its bearish momentum the past few days, declined as suggested towards the 0.8933 levels, and printed a new resistance at the 0.9071 levels, now focus will be on the key resistance 0.9071, with this level intact, further decline couldn’t be ruled out, and pressure is likely to be built on the 0.8847 levels, a break would open the 0.8746 levels ahead of the 0.8618 levels, furthermore will aim the 0.8477 levels.

On the upside, resistance is 0.9071, a break on a daily closing basis would confirm short term bottoming and flip bias back to the upside towards the 0.9232 levels, a break would open the 0.9317 levels, furthermore will aim the 0.9555 levels.

In all, as long as 0.9071 holds on a daily closing basis, the pair will remain under pressure with risk towards 0.8847 and possibly lower, break of 0.9071 will reverse risks to the upside towards the 0.9232 levels ahead of 0.9317 levels.

Support and resistance levels: 0.8477 ,  0.8618,  0.8746, 0.9071 (Pivot) ,  0.9232 ,  0.9317,  0.9555

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