FX.co - AUD/USD Update for August 17,2021 - Breakout of the 20-day balance

2021-08-17T11:50:03

Relevance until2021-08-22

Technical analysis:

AUD/USD Update for August 17,2021 - Breakout of the 20-day balance

AUD/USD has been trading downside and there is the breakout of the 20-day balance, which is strong sign for the downside continuation.

Trading recommendation:

Watch for selling opportunities on the rallies with the major downside targets at the price of 0,7230 and 0,7050.

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

Key resistance at the price of 0,7325

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ AUD/USD Update for August 17,2021 - Breakout of the 20-day balance