FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, discusses AUD/USD prospects.

“AUD/USD charted an outside day to the downside yesterday and we can only assume it is ready for another leg lower.”

“The aussie recently failed at the four-month downtrend at 0.7400 and we will retain a negative bias while capped here.”

“Minor support at 0.7222/20, the 27th August low guards 0.7106, the August low. Key support remains at 0.7062/0.6991. This represents the September and November 2020 lows.”