Aud/usd Resumes Its Bear Trend

  • AUD/USD has resumed its long term downtrend, making new bear market lows overnight. 
  • However, evidence continues to indicate a very late stage decline where new lows should prove relatively limited. 
  • Specifically, weakness should be limited to 0.7460 channel support, worst case 0.7193/0.7359 (6m downward slopping channel in brown and 14yr trend line/channel support) before renewed basing. 

The material has been provided by InstaForex Company – www.instaforex.com

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