Search ForexCrunch

AUD/USD: Having continued to weaken, we see risk of further downside towards the 0.9000 level where a break will target further downside towards the 0.8950 level.

Further down, support stands at the 0.8900 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9150 level followed by the 0.9202 level. A cut through here will aim at the 0.9250 level.

Further out, resistance comes in at the 0.9300 level. All in all, the pair remains biased to the downside.

Guest post by  FX Tech Strategy