AUD/USD Risk Remains To The Upside On Correction
FXTechstrategy Team | Mar 04, 2020 03:33AM ET
AUD/USD looks to extend further higher as it holds on to its recovery threats. On the downside, support comes in at the 1.6550 level. A cut through here will turn focus to the 0.6500 level and then the 0.6450 level. A violation will set the stage for a retarget of the 0.6400 level. Conversely, resistance lies at the 0.6650 level where a breach will aim at the 0.6700 level. Below here will open the door for a run at the 0.6750 level and then the 0.6800 level. Its daily RSI is bullish and pointing higher suggesting more strength On the whole, AUDUSD faces further upside threats in the short term.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.