Home AUD/USD: Technical Analysis: Bears in the kill zone, target 0.6980 for break to 0.6802

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AUD/USD: Technical Analysis: Bears in the kill zone, target 0.6980 for break to 0.6802

FX Street

Updated: 8 Mar. 2019 | 03:07

While developing lower within the descending bearish channel, AUD/USD has moved into the eclipse zone which is below both critical horizontal support as well as the flash crash trend line support.
The 4HR Cloud is bearish with price developing below cloud resistance and Tenken-Sen leading the way.
A break of 0.6980 opens the flood gates to 0.68 the figure.
On the flip side, a break above 0.7050 will start to negate the descending channel’s dominance, clearing out stale shorts and caution should be applied.

AUD/USD 4HR Chart

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