The Australian Dollar is down more-than 0.6% towards US Dollar this week with Aussie rebounding off key lateral help late within the week. These are the up to date targets and invalidation ranges that matter on the AUD/USD weekly chart. Review this week’s Strategy Webinar for an in-depth breakdown of this oil worth setup and extra.
Australian Greenback Chart – AUD/USD Weekly
Notes:In my final Australian Dollar Weekly Price Outlook we famous that AUD/USD was, “testing yearly downtrend resistance right here and leaves the fast Aussie advance susceptible sub-6895.” Aussie registered a excessive on the 61.8% retracement of the July decline at 6928 within the following days earlier than reversing sharply with the decline testing help this week on the yearly low-week shut at 6768.
Preliminary resistance now stands again on the 2016 low-week shut /…