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Gelium

AUD: Breakout of the rising support level.

Short
Australian Dollar / U.S. Dollar (OANDA:AUDUSD)  
Gelium Updated   
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Chart Patterns AUDUSD aud audshort
2
0
chartpattern audusd aud audshort
The breakdown of the upward support level, after the statement of the Australian Central Bank about the too high rate of the Australian dollar and possible interventions, caused the price to decline to the support level of 0.7080. After an upward rollback, the downward movement can be continued to the next support level around 0.6780.
Comment:
snapshot

The downtrend is likely to continue amid expectations of a cut in the interest rate of the Central Bank of Australia.
Comment:
Trade closed: target reached:
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