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IlyaSpivak

AUD/USD upswing running out of steam?

Australian Dollar / U.S. Dollar (FX_IDC:AUDUSD)  
IlyaSpivak  
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Support and Resistance Trend Lines AUDUSD aud aud-usd australiandollar
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trendanalysis supportandresistance trendline audusd aud aud-usd australiandollar
AUD/USD slipped below support near 0.7070, marked by a rising trend line guiding the upswing since the upswing from mid-month lows as well as former range resistance. A retest is now underway. If it fails, the longer-term downtrend may resume. Confirmation is eyed on a breach and hold below 0.7020, which may then set the stage for a slide back toward the 0.69 figure.
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