Currency analyst

AUD/USD: bears countercharged

On the daily AUD/USD chart the attempt of the bulls to restore the uptrend ended in a failure. The break of support at 0.7611-0.7625 may lead to a correction towards 0.752. The nearest resistance level is near 0.773.

AUD/USD breached the lower border of the uptrend channel and fell to support at 0.764. Its successful test will allow the pair to keep moving to 0.761 and 0.758. Recoil higher will allow the uptrend to resume. The nearest resistance is close to 0.7675.


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