Search ForexCrunch

AUDUSD: With the pair remaining weak and vulnerable, we think it should still extend its downside pressure. On the downside, support lies at the 0.8350 level.

A cut through here will turn attention to the 0.8300 level and then the 0.8250 level where a violation will set the stage for a re-target of the 0.8200 level. On the upside, resistance resides at the 0.8450 level where a breach will aim at the 0.8500 level.

Above that level will set the stage for a run at the 0.8550 level with a cut through here resuming its broader uptrend towards the 0.8600 level. On the whole, AUDUSD continues to retain its broader downtrend.