FX.co ★ AUD/USD: 0.6571 as next target

AUD/USD Downtrend!

The AUD/USD pair crashed in the short term and now is trading at 0.6593 at the time of writing. The next downside target is represented by the 0.6571 lower low. This level stands as a downside obstacle.

As you can see on the H1 chart, personally, I've drawn a downtrend line which represents an upside obstacle. As long as it stays below it, the currency pair could extend its downside movement.

AUD/USD Trading Conclusion!

Dropping below 0.6571 confirms more declines and could be seen as a selling signal.