By Christopher Romano — Oct 16 - 11:35 AM
AUD/USD hit a fresh 1-month low Wed.; more bearish signals emerged
Pair broke the daily cloud top after recent consolidation phase ended
Daily, monthly RSIs are falling, aren't oversold; implies downward momentum
AUD/USD's move to a fresh low now brings major impediments into focus
50% Fib of 0.63485-0.69435, 200-DMA, Sept. monthly low sit within 0.6622/46
Break below that zone could trigger stop loss selling, intensify pair's fall
AUD/USD shorts may then target the 0.6470/0.6510 support zone
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary