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Add as a preferred source on Google FxWirePro:AUD/USD breaks major support 0.7000, good to sell on rallies AUD is one of the worst performing G10 currencies in the past one year on account of weak Chinese economy and lower commodity prices. China's flagging economy and subsequent devaluation of its currency is dragging the AU…
Updated Jan 11, 2016, 5:06 AM UTC 1 min read
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AUD is one of the worst performing G10 currencies in the past one year on account of weak Chinese economy and lower commodity prices.
China's flagging economy and subsequent devaluation of its currency is dragging the AUD further down.
Aussie has broken minor support 0.7010 and declined till 0.69269. The pair's major support is around 0.6900 and break below targets 0.676/0.6590.
Overall trend is still bearish as long as resistance 0.7385.
The minor resistance is around 0.7060/0.7170/0.7300.
It is good to sell on rallies around 0.7200 with SL around 0.7380 for the TP of 0.676/0.6590.
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