• 4 days Visa, Mastercard Slump Amid Covid Worries, Regulatory Outlook
  • 5 days 3 Biotech Stocks Wall Street Loves This Quarter
  • 9 days Fintech Goes “Green”, Joining $30T ESG Boom
  • 10 days U.S. Cargo Theft Spikes Amid Huge Supply Chain Snarl Ups
  • 11 days Buybacks Are Back, But New Taxes Could Dull the Party
  • 13 days Don’t Be Fooled By Musk’s Twitter Performance
  • 18 days 3 Healthcare Sector Stocks to Watch Right Now
  • 19 days More Trouble Ahead for Supply Chain as Hackers Descend
  • 20 days Saudi Arabia To Invest $64 Billion Into Becoming A New Global Cinema Hub
  • 23 days The Cryptic Squid Strikes, Netting Scammers Nearly $4M
  • 23 days October Jobs Impress but Inflation Threatens Recovery
  • 25 days Another Round of ‘Meme’ Stocks Coming Our Way?
  • 25 days 2021’s Black Friday Bummer
  • 27 days Buy-Now-Pay-Later Is A Huge Threat to Credit Cards
  • 30 days Microsoft Passes Apple As World’s Most Valuable Company Amid Stellar Earnings
  • 31 days 3 IPOs from Big to Small Coming Our Way
  • 32 days Robinhood Investors Balk at ‘Meme’ Growth
  • 33 days $12M Seized in Massive US-Dubai Money-Laundering Raid
  • 34 days China Launches Digital Yuan As U.S. Dallies
  • 36 days ‘Unicorns’ Are Now Small Fry in the Era of ‘Decacorns’
MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

Contact Author

  1. Home
  2. Markets
  3. Other

AUD/USD - Continued Decline

AUD/USD's bearish momentum is growing after the break of the 61.8% and the 50% Fibonacci retracement. Hourly support given at 0.7421 (27/07/2016 low) is approaching. Expected to see further weakness.

In the long-term, we are waiting for further signs that the current downtrend is ending. Key supports stand at 0.6009 (31/10/2008 low). A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment