AUD/USD may fall 20 - 40 pips

Pivot

0.6575

Our preference

Short positions below 0.6575 with targets at 0.6520 & 0.6500 in extension.

Alternative scenario

Above 0.6575 look for further upside with 0.6600 & 0.6620 as targets.

Comment

The immediate trend remains down and the momentum is strong.

Supports and resistances

0.6620

0.6600

0.6575

0.6540 Last

0.6520

0.6500

0.6480

Number of asterisks represents the strength of support and resistance levels.