AUD/USD is currently reporting marginal gains at 0.7020, having printed levels near the key support at 0.7003 (March 8 low) earlier today. The pair, however, looks set for a drop below 0.70 if we take into account the symmetrical triangle breakdown – a bearish continuation pattern – seen in the daily line chart. Notably, the bearish technical setup is backed by the narrowing of the spread between the two-year Australian and US government bond yields to the lowest since September 1997. Hence, corrective bounce, if any, could be short-lived. Daily line 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 USD/CAD remains firm around 1.3490 as WTI pullback supports BOC-led rally FX Street 4 years AUD/USD is currently reporting marginal gains at 0.7020, having printed levels near the key support at 0.7003 (March 8 low) earlier today. The pair, however, looks set for a drop below 0.70 if we take into account the symmetrical triangle breakdown - a bearish continuation pattern - seen in the daily line chart. Notably, the bearish technical setup is backed by the narrowing of the spread between the two-year Australian and US government bond yields to the lowest since September 1997. Hence, corrective bounce, if any, could be short-lived. Daily line chart Trend: Bearish 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.
