- Analytics
- News and Tools
- Market News
- AUD/USD: Break below 0.6991 to introduce scope for a dive to 0.6758 – Credit Suisse
AUD/USD: Break below 0.6991 to introduce scope for a dive to 0.6758 – Credit Suisse
AUD/USD has turned back lower over the past couple of weeks after being capped below the important cluster of resistances at 0.7541/57. As economists at Credit Suisse note, the aussie is threatening a major top, leaving the pair at risk of falling as low as 0.6758.
AUD/USD is still threatening a major top
“The aussie is still potentially threatening a large topping pattern, with key medium term supports starting at 0.7122/06 and stretching down to 0.6991, which includes the 38.2% retracement of the 2020/21 recovery and the ‘neckline’ to the 2020 base.”
“A break below 0.6991 would complete a major top to suggest a fall back to 0.6758, which is the 50% retracement of the 2020/21 upmove.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
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 pr@teletrade.global.
Bank transfers
