AUD/USD will remain under pressure

19/12/2019
Posted in News
19/12/2019 AdamantFX

AUD/USD will remain under pressure

AUD/USD will remain under pressure

Analysts suggest that AUD / USD is trading below the downtrend line at .6900 and the 200-day MA at .6926. Currency, in all likelihood, will maintain descending tops.

This week, AUD / USD is likely to decline to .6724 (October 16 minimum) and.6671. Analysts predict that the last level will pass the test, which will lead to trading in the range.

Breakout .6671 at the close will aim the pair at .6548 (February 1999 maximum). Moreover, we mark TD support at .6535, on the weekly chart. A breakthrough of the 200-day MA will make the target .7076 (mid-July high). Above .7205 runs the downtrend line of 2013-2019. “