Wed, Feb 01, 2023 @ 06:59 GMT
HomeContributorsTechnical AnalysisAUD/USD Tests Major Support

AUD/USD Tests Major Support

The Australian dollar slips as the RBA minutes hints at a possible pause in rate hikes. The pair has so far struggled to clear 0.6900 at the origin of the September sell-off. A combination of profit-taking and fresh selling has weighed on the aussie. A push under 0.6750 may have dampened the enthusiasm, putting the recent lows around 0.6670 at test. The bulls must lift offers in the newly formed supply zone around 0.6790 before they could regain control. Otherwise, a fall below said support could trigger a broader liquidation.

Orbex
Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading