AUD/USD – Ready for Next Move Down?

We just had the release of the AUD cash rate half an hour ago, which was maintained at 1.5% – no increase, no cut.

AUD pairs spiked upwards shortly after but don’t look upside-convincing to me.

Shall observe what happens after London Open.

If it heads south, these are the next support zones to watch, based on simple price structure:

S1: 0.75385
S2: 0.75066
S3: 0.74552

Once these 3 support levels are cleared, its pretty much free-fall zone for AU till 0.7310 before we see some support.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s