The AUD/USD has the potential for a further major downward move, with 0.8660 the key level to watch
QMG Pty Ltd
The AUD/USD has the potential for a further major downward move, with 0.8660 the key level to watch. It initially generated a technical sell signal at 0.9203 on 10/9/14 which was the technical turning point. A further break below key support located at 0.8821 then occurred on 25/9/14, which flagged the potential for a pullback to 0.8660 - the January 2014 low point. The 0.8660 level is an extremely significant technical support level, as a close below that barrier if it occurs, would signal the next major downward move.
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.