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- AUD/USD remains under pressure for further downside - Credit Suisse
AUD/USD remains under pressure for further downside - Credit Suisse
FXStreet reports that analysts at Credit Suisse apprise AUD/USD remains under pressure in line with the overall risk-off sentiment, which suggests further weakness, with first key support at 0.7006/00.
“AUD/USD remains under pressure after a renewed test of the pivotal September lows as well as the psychological barrier at 0.7021/00. Whilst this should again be respected, below here in due course would reinforce the overall risk-off sentiment and see support next at 0.6989, ahead of the more important 23.6% retracement of the entire 2020 surge at 0.6965/63. Although we would expect to see another attempt to hold, beyond here would see support move back to 0.6935, ahead of 0.6921, with scope for the 0.6800 200-day average if 0.7006/6965 is broken.”
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