Continuum_Economics

Chart AUD/USD Update: Breaking lower

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
13:15 GMT - Consolidation above 0.7700 is giving way to the anticipated break lower, as negative daily stochastics and the bearish Tension Indicator add fresh weight to sentiment.
Focus is turning to the 0.7625 Fibonacci retracement , with a further close beneath here confirming a more significant correction, extending FX:AUDUSD losses below 0.7600 towards the 0.7500/15 area.
Meanwhile, an unexpected close above 0.7700 would delay downside development and put prices back into consolidation, capped by strong resistance at 0.7800/20.
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