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Fan Yang

AUD/USD Has 0.6825 in Sight

AUD/USD broke another key support and we are likely going to see it slide to the 2016-low around 0.6825.

AUD/USD Daily Chart

(click to enlarge)

Key Support Broken:
- As we can see on the daily chart, 0.7155 was a common support in 2016. 
- The market only spend one day bouncing off this support and was very strong on the bearish breakout.
- This breakout opens up the next support, which is around 0.6825.
- We are also going to look at the support area of 0.7150-0.72 as a potential resistance area.