AUD/USD Price Analysis: Bears on the prowl below key resistance AUDUSD Technical Analysis
has already made a recovery that came in close contact with the 38.2% ratio which leaves prospects of a move to the downside with 0.6520 eyed.'' The price is carving out a geometrical box, an ascending triangle, in a downtrend which is considered a bearish chart pattern. Two-way price action can be expected from here with a bearish bias while on the front side of the bear trend and below the 200 DMA. 0.6520 is key in this regard as it guards a move towards 0.
With all that being said, the daily chart's 38.2% Fibonacci is yet to be tested higher up near 0.6650. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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