AUD/USD could continue down to 0.68380

Denis Joeli Fatiaki Independent Analyst

The Australian dollar ended last week's trading session at the bottom of the 30 minutes price channel, also a critical retracement level at 0.68570. The Aussie dollar had a tough week trying to break out of the downward price channel, which seems to be an impossible task as the U.S. dollar continued its rally.

The Aussie dollar will seek to holdout its current support at 0.68570 come Mondays session. The Nab business confidence and Westpac consumer sentiment reports come out early next week, which could have an impact on the Aussie dollar. The Aussie dollar could continue down to 0.68380 if it fails at 0.68570.

Support: 0.68570, 0.68380, 0.68270, and 0.68190
Resistance: 0.68710, 0.68850, 0.68975, and 0.69125

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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