A break of 0.6980 triggers fresh selling towards early 2016 levels. The pullback moves might be challenged by immediate trend-line resistance. The dimmed prospects of the US-China trade deal drags the AUD/USD pair to the intra-day low of 0.6965 during the early Asian session on Monday. The pair trades below 0.6980 confluence comprising 38.2% Fibonacci retracement of December – January plunge and the low of the candle just ahead of the mentioned drop. With the fundamentals and technicals both supporting the downturn, chances of the quote’s slip to late-January 2016 lows near 0.6970 and 0.6920 can’t be denied. However, the year 2016 bottom near 0.6820, followed by the January month’s flash crash low of 0.6730, can appear on the bears’ radar afterward. In a case prices take a U-turn, a break of 0.6980 can recall 0.7000 on the chart whereas three-week-old descending trend-line at 0.7030 might question the pullback then after. Should there be additional upside past-0.7030, 0.7055 and April 30 high around 0.7070 might please buyers. AUD/USD daily 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 AUD/JPY slips to four-month lows on Trump’s renewed China trade threat FX Street 3 years A break of 0.6980 triggers fresh selling towards early 2016 levels. The pullback moves might be challenged by immediate trend-line resistance. The dimmed prospects of the US-China trade deal drags the AUD/USD pair to the intra-day low of 0.6965 during the early Asian session on Monday. The pair trades below 0.6980 confluence comprising 38.2% Fibonacci retracement of December - January plunge and the low of the candle just ahead of the mentioned drop. With the fundamentals and technicals both supporting the downturn, chances of the quote's slip to late-January 2016 lows near 0.6970 and 0.6920 can't be denied. However, the… 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.
