AUD/USD confirms bearish chart formation, signals further downside to a fresh 11-year low. 200-bar SMA acts as the immediate upside barrier, 0.6545 may act as nearby support. AUD/USD drops to 0.6605 amid the initial trading session on Monday. In doing so, the Aussie pair confirms the short-term bearish technical pattern. While theory suggests the Aussie pair’s further downside towards fresh 11-year low, 50% and 38.2% Fibonacci retracements of February 12-28 downside, respectively around 0.6590 and 0.6555, can please short-term bears. Also challenging the sellers will be horizontal support around 0.6550/45 as well as 23.6% Fibonacci retracement level near 0.6505. On the upside, the support-turned-resistance around 0.6625 and 200-bar SMA close to 0.6680 can question the immediate buyers. If at all the quote rallies beyond 0.6680, 0.6710 and 0.6750 will be on the bulls’ radars. AUD/USD four-hour chart Trend: Bearish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next South Korea confirms 69 new coronavirus cases FX Street 2 years AUD/USD confirms bearish chart formation, signals further downside to a fresh 11-year low. 200-bar SMA acts as the immediate upside barrier, 0.6545 may act as nearby support. AUD/USD drops to 0.6605 amid the initial trading session on Monday. In doing so, the Aussie pair confirms the short-term bearish technical pattern. While theory suggests the Aussie pair’s further downside towards fresh 11-year low, 50% and 38.2% Fibonacci retracements of February 12-28 downside, respectively around 0.6590 and 0.6555, can please short-term bears. Also challenging the sellers will be horizontal support around 0.6550/45 as well as 23.6% Fibonacci retracement level near 0.6505. On… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
