- AUD/USD Price Analysis: Bears could be on the verge of a move below 0.71 the figure
Market news
21 December 2021
AUD/USD Price Analysis: Bears could be on the verge of a move below 0.71 the figure
- AUD/USD bears about to pounce, RBA minutes awaited.
- AUD/USD is treading on thin ice into the event.
The Reserve Bank of Australia's minutes are coming up and AUD/USD is trading water above 0.71 the figure. AUD/USD is on the verge of a downside correction as per the longer-term outlook as follows:
AUD/USD weekly chart
The weekly chart's recent lows are hanging over the abyss and the market could be on the verge of a significant downside extension.
AUD/USD daily chart
The current daily support will be targeted which opens the abyss.
AUD/USD 4-hour chart
A break of the support and retest as per the 4-hour chart could be the next path for the pair.
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