“¢ The pair extended last week’s rejection slide from the very important 200-day SMA and the selling pressure intensified on Wednesday following the release of softer Aussie CPI figures. “¢ The pair lost ground for the fifth consecutive session and a sustained break through a short-term ascending trend-line, near the 0.7100 mark, was seen as a key trigger for bearish traders. “¢ Despite a sharp intraday slump to the lowest level since March 11, technical indicators on the daily chart are still far from being in the oversold territory and support prospects for further downside. “¢ Hence, any attempted recovery towards the 0.7050-60 horizontal zone seems more likely to get sold into and bears might now target an eventual drop towards the key 0.70 psychological mark. AUD/USD daily chart 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 Disney may become an owner of Bitstamp and Korbit FX Street 4 years "¢ The pair extended last week's rejection slide from the very important 200-day SMA and the selling pressure intensified on Wednesday following the release of softer Aussie CPI figures. "¢ The pair lost ground for the fifth consecutive session and a sustained break through a short-term ascending trend-line, near the 0.7100 mark, was seen as a key trigger for bearish traders. "¢ Despite a sharp intraday slump to the lowest level since March 11, technical indicators on the daily chart are still far from being in the oversold territory and support prospects for further… 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.
