Technical Analysis

AUD/USD Pressuring Critical Support


Price is trading in the red, resuming the corrective phase. It has dropped as much as 0.7838 today, but has squeezed in the last hours and continues to pressure the median line (ML) of the major ascending pitchfork. A valid breakdown below the median line (ML) will signal a larger drop in the upcoming weeks.

You don't need to rush because we have another major support at the 0.7835.

Author: MultiBank Exchange Group Website:
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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