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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/USD towards fresh new lows

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AUD/USD Bearish Bias

AUD/USD is located at 0.7240 far below the downtrend line. As you already know, the price could drop when the pair is traded under a downtrend line. 0.7231 former low is seen as a downside obstacle.

Dropping below this level may signal a further drop towards the 0.7200 psychological level or even lower. The downside scenario could be invalidated only by an upside breakout above the downtrend line.

AUD/USD Forecast

We may have a new selling opportunity if the rate drops and stays below the 0.7231 level. 0.7118 lower low is seen as a major downside target if the price resumes its sell-off.

The material has been provided by InstaForex Company - www.instaforex.com