A few things are occurring today in the AUD USD which may be indicative of lowerprices to follow. Firstly, this pair is in a position to close under amajor 50% retracement level at .7928.
The weak equity and commodity markets have triggered renewed selling pressure in the AUD USD.
A few things are occurring today which may be indicative of lower prices to follow. Firstly, this pair is in a position to close under a major 50% retracement level at .7928.
Secondly, another lower-top may be forming at .8117. We will not know for sure until tomorrow.
Thirdly, this pair is trading under a pair of lower-tops at .8238 and .8264.
Fourthly, breaking under a minor retracement zone at .7857 to .7761 will put this market in a weak position.
Finally, the weak close has this market in a position to take out a pair of Main Bottoms at .7849 and .7828.
Should the AUD USD begin to sell-off, then look for a break to at least .7274.