By Martin Miller — Apr 08 - 03:06 AM
• AUD/USD has scope for eventual losses to levels not seen since 2020
• 14-week momentum reading remains negative, highlighting the downside risk
• Near-term recovery moves should be limited by 0.6171 Fibo
• 0.6171 Fibo, a 23.6% retrace of the 0.6943 to 0.5933 (Sept to April) drop
• A break, weekly close back above the 0.6171 Fibo would shift the bias higher
• AUD/USD Trader . Previous update
Weekly Chart:
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters
