As of Friday’s close, AUDUSD has broken and closed below a significant support level (0.717 – 0.7183) which supported the pair since May 2016. This could lead to a possible continuation of the downside momentum as the sell down of Friday was strong.
In addition, there is quite a large space for the pair to play out from the broken significant level (0.717 – 0.7183) to the next significant level (0.6922).
Monthly Levels: Represented in Red
Weekly Levels: Represented in Blue
Daily Levels: Represented in Black
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