- Analytics
- News and Tools
- Market News
- AUD/USD ends the recent pause, further weakness to follow – Credit Suisse
AUD/USD ends the recent pause, further weakness to follow – Credit Suisse
AUD/USD has ended its recent pause after breaking below 0.6361. Analysts at Credit Suisse look for continued downside to 0.6041 and likely beyond.
Resistance moves to 0.6361/80
“We see the core bearish trend as resumed and with risk sentiment likely to remain weak, we look for further deterioration to follow.”
“Support shifts to 0.6281/74 and then a more meaningful support is seen at the late April 2020 low at 0.6250. Whilst we stay wary of signs of a brief pause here as well, our bias would be to see a direct move below here to eventually reach the 78.6% retracement of the 2020/21 uptrend and April 2020 low 0.6041/5978 and likely a move lower towards the 2020 low at .5506 thereafter.”
“Resistance moves to 0.6361/80 and then to 0.6411, though above here we look for the 13-day average at 0.6478 to continue to cap to maintain the downside.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
