AUDUSD Loses Downside Momentum Following Significant Break
AUDUSD broke decisively lower yesterday but follow through lacked today with the exchange rate showing only a marginal decline as of the European close.
Support at 0.7500 in the pair is seen as significant as it had held it higher since the middle of January. As the pair was confined to a range during this time, yesterday’s break of support signals a range break with measured move targets at 0.7280.
Support at 0.7500 in the pair is seen as significant as it had held it higher since the middle of January. As the pair was confined to a range during this time, yesterday’s break of support signals a range break with measured move targets at 0.7280.