AUD/USD: Still Range-Bound After 3 Months; Downside Bias
Forex4you | Mar 30, 2015 08:16AM ET
AUD/USD is still broadly in a range which has persisted for the whole year. It is weakening now and falling down to a trend-line, which it has just met and is likely to encounter support at.
The trend previous to the sideways market mode was down and this will probably extend lower eventually, although because of the nexus of support lines in the 0.76s I would ideally want to see these clearly passed, and a break below the March lows at 0.7559 for confirmation of more downside, to a target at 0.7491, where the S2 Monthly Pivot is situated.
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