AUD/USD Daily Outlook

[Forex-Outlook]

AUD/USD drops further to as low as 0.8685 so far and at this point, intraday bias remains on the downside for further decline. Break of 0.8715 support confirms that whole fall from 0.9380 has resumed and AUD/USD should now target 0.8577 key medium term support level. On the upside, above 0.8831 minor resistance will turn intraday bias neutral and bring recovery. But upside should be limited well below 0.9077 resistance and bring fall resumption.

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