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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/USD remains bearish; look to sell on strength

We remain bearish for a further drop, looking to sell on strength below 0.7605 resistance (Fibonacci retracement, horizontal pullback resistance) for a further drop to 0.7517 support (Fibonacci retracement, horizontal overlap support).

RSI (34) sees multiple descending resistance lines holding price down.

Sell below 0.7605. Stop loss is at 0.7650. Take profit is at 0.7517.

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The material has been provided by InstaForex Company - www.instaforex.com