Home AUD/USD technical analysis: AUD keeps bleeding and at lowest since flash crash

AUD/USD technical analysis: AUD keeps bleeding and at lowest since flash crash

Updated: 1 Aug. 2019 | 03:27

AUD/USD extending losses as the DXY rallies 0.33% in Tokyo.
The 127.2% Fibo ext. is located at 0.6760.

AUD/USD has broken the 0.6832 lows and bears can now target the 127.2% Fibo ext. at 0.6760 ahead of the 0.6738 January 2019 low and 0.6725, the 2016-2019 support line. A Fibo retracement opens the 23.6% in the 0.6880s. “Rallies will find initial resistance at 0.6953 55 day ma ahead of very tough band of resistance, namely .7060/84. This is the location of the 200 day ma and the 8-month downtrend,” analysts at Commerzbank said.

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