Aussie

AUD/USD

A follow-through lower on 2 rejection candle formations Monday clearing the way for more weakness in the days ahead.

On the Northside

Resistance lies at 0.7150. A clear break there turn attention to 0.7200, then 0.7250 where a violation will set the stage for a re-target of 0.7200.

On the Southside

Support resides at 0.7100, where a break will point at 0.7050. A clear break of that mark will set the stage for a run at the 0.7000, a break there targets more Southside action towards 0.6950.

The AUD/USD daily RSI is Bearish and points South supporting this outlook.

Overall, AUD/USD continues to feel long term Southside pressure.

Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technical trader

Stay tuned…

HeffX-LTN

Paul Ebeling