HomeContributorsTechnical AnalysisAUD/USD Remains Vulnerable To The Downside Short Term

AUD/USD Remains Vulnerable To The Downside Short Term

AUDUSD remains vulnerable to the downside short term as it looks to resume its broader weakness. On the upside, resistance lies at the 1.7250 level. A cut through here will turn attention to the 0.7300 level and then the 0.7350 level where a violation will set the stage for a retarget of the 0.7400 level. Support resides at the 0.7150 level where a breach will aim at the 0.7100 level. Below here will set the stage for a run at the 0.7050 level with a cut through here targeting further downside pressure towards the 0.7000 level. On the whole, AUDUSD faces further downside threats.

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FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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