AUD Continue Declining versus USD in Forex market
8/9/2017 8:04:14 PM
The AUD/USD pair stayed weak for the 6th successive session and broke below the 0.7905 handle to hit three-week lows.
Any additional recovery might now provoke persistence near the 0.7905 handle, above which a bout of short covering could boost the pair back towards 0.7947-57 horizontal barrier on the way 0.7983-88 persistence. On the other hand, decline below session lows support near 0.7848 level could get expanded towards 0.7835 horizontal level before the pair ultimately falls to test the 0.7811-0.7795 support zone.
FOREX market analysis by FxErvin.