AUD/USD Weekly Outlook 24.11.14
Sentiment: Bearish
This has been an interesting pair as it has been trading in quite a large range between 300-400 pips over the past 8 weeks as it has been consolidating around the January lows of 0.86600.
The pair has failed to really show any significant bullish intent and is showing signs of gradually breaking down the support of 0.86600.
As long as 0.86926 stays as this week’s resistance and we get a close below the 0.86369 on the 4HR time frame. I would expect prices to start declining to continue its downward trend.
Next Support Levels
0.85518
0.84645
0.83771