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- AUD/USD Price Analysis: Capped by 0.75 area, bears stay in the race for deeper daily correction
AUD/USD Price Analysis: Capped by 0.75 area, bears stay in the race for deeper daily correction
- AUD/USD bulls are tiring at the 0.75 area, so far,
- Failures through 0.7510 could lead to a deeper daily correction.
Following the Retail Sales data from earlier in the Asian session on Thursday, the price has attempted to rally but has come against offers protecting the 0.75 area so far:
AUD/USD hourly chart
From a longer-term perspective, the focus is on the downside so long as 0.7510/12 areas can hold and there will be prospects for a run into the daily support area, presuming that a deeper correction on the daily chart will play out before there is enough fuel for a continuation higher:
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