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AUD/USD: Break below 0.6991 to introduce scope for a dive to 0.6758 – Credit Suisse

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AUD/USD has became again decrease over the past couple of weeks after being capped beneath the essential cluster of resistances at 0.7541/57. As economists at Credit Suisse note, the aussie is threatening a most important top, leaving the pair at chance of falling as low as 0.6758.

AUD/USD is nonetheless threatening a most important top
“The aussie is nonetheless probably threatening a giant topping pattern, with key medium time period helps beginning at 0.7122/06 and stretching down to 0.6991, which consists of the 38.2% retracement of the 2020/21 restoration and the ‘neckline’ to the 2020 base.”

“A spoil beneath 0.6991 would whole a foremost pinnacle to recommend a fall again to 0.6758, which is the 50% retracement of the 2020/21 upmove.”

AUD/USD has grew to become again decrease over the previous couple of weeks after being capped under the vital cluster of resistances at 0.7541/57. As economists at Credit Suisse note, the aussie is threatening a foremost top, leaving the pair at chance of falling as low as 0.6758.

AUD/USD is nonetheless threatening a principal top
“The aussie is nevertheless doubtlessly threatening a massive topping pattern, with key medium time period helps beginning at 0.7122/06 and stretching down to 0.6991, which consists of the 38.2% retracement of the 2020/21 recuperation and the ‘neckline’ to the 2020 base.”

“A smash beneath 0.6991 would entire a foremost pinnacle to propose a fall lower back to 0.6758, which is the 50% retracement of the 2020/21 upmove.”

 

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