Bearish Bias

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Updated: 16 January 2020

Good day traders! The move higher from last year’s October low into the 31st of December top looks like a corrective phase within a larger downtrend.

Price might create a lower high soon and a break below yesterday’s low at 0.6877 could be the first indication that AUD/USD will decline further.

Lower targets could be set at 0.6799/0.6800 (lower median line of my pitchfork) and 0.6670 (last year’s low).

Until next time, happy and safe trading.

Richard Krugel