AUDUSD continued its downward movement from 0.9461, and the fall extended to as low as 0.9295.
Further decline would likely be seen, and the target would be at 0.9250 area.
Key resistance is now at 0.9380, only break above this level could signal completion of the downtrend.
Editor’s Note: Equity investors/traders can use the Currency Shares Australian Dollar Trust (FXA, quote) ETF to take positions in the Aussie dollar without a FOREX account. The ETF looks to track the price of the euro, minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.
Content curiosity of FOREXCycle
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