FXStreet reports that the Credit Suisse analyst team notes that AUD/USD was recently aggressively capped below key resistance at 0.7599/7617. A break below 0.7418 is likely to trigger an acceleration lower.
“The aussie has broken to new year-to-date lows this morning, bringing more important support at the 23.6% retracement of the upmove from 2020 at 0.7418 into focus. It’s worth noting that there is a dearth of meaningful support below here, meaning the downtrend could accelerate on a break below this level, with next minor support at 0.7379/72, then 0.7338.”
“Near-term resistances move to 0.7535, then 0.7576, with more important resistance seen at the ‘neckline’ resistance at 0.7599/7617."
© 2000-2022. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at email@example.com.