AUDUSD is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If AUDUSD continues in its current trajectory, we could see it reach 0.6247 within the next 8 hours.
AUDUSD formed a Channel Down on the 1 hour chart. Retest of support in sight.
