FxWirePro: Gravestone Doji on AUD/USD charts shows selling pressure at highs
AUD/USD broke major trendline support at 0.71 on Wednesday's trade to edge lower. It fell to a 3-month low of 0.6980 on Thursday, before recovering to session highs at 0.7076 on the day. The antipodeans remained supporte…
AUD/USD broke major trendline support at 0.71 on Wednesday's trade to edge lower.
It fell to a 3-month low of 0.6980 on Thursday, before recovering to session highs at 0.7076 on the day.
The antipodeans remained supported after the Central Bank of China set a higher yuan guidance rate for the first time in 9 days.
Selling pressure was seen at highs which pushed the pair lower to 0.7011 levels.
The pair is trading well below the cloud and Gravestone Doji formation seen on dailies suggests further downside, 0.6937 next bear stop ahead of 0.6907 (Sept 4 lows).
On the other side break above 0.71 (trend line support turned resistance), could see the pair at 0.7160 (cloud base) and then 0.7171 (Jan 6 highs).
