AUD/USD Price Analysis: Bears testing 0.6700 that guards 0.6650

AUD/USD bears are in the market and eye a downside extension.
The US Dollar is bouncing back to life and weighing on the pair.

Ross J Burland FXStreet

AUD/USD has been offered with the US Dollar´s strength coming into play with 0.6650/20 eyed as a key target as the following analysis will illustrate:

AUD/USD daily charts

As illustrated, AUD/USD is in the hands of the bears on the daily chart within support and resistance between 0.6625 and 0.6790, although the bias is to the downside as the price tests below 0.6700.

AUD/USD H4 chart

AUD/USD bears have come in to test the bull´s commitments at the micro trendline support around 0.6700 and with further horizontal support near 0.6675 eyed. However, there is a compelling area of imbalance on the 4-hour chart between 0.6713 and the 0.6750s that could well be mitigated if the bulls commit at the aforementioned support area.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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