Bears eye a break below key 0.6750 – Crypto News – Crypto News
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AUD/USD declines after facing barricades around 0.6900, focus shifts to US PMI AUD/USD declines after facing barricades around 0.6900, focus shifts to US PMI

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Bears eye a break below key 0.6750 – Crypto News

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  • AUD/USD bears are ready to pounce on rallies and eye a break of 0.6750.
  • Bulls need to get above 0.6850 to break the bearish bias.

Ahead of next week’s FOMC meeting, US stocks retreated, and this took the Aussie for a ride to the downside as well as the us dollars scrambled higher across the board.

The following illustrates the market structure and the prospect of a downside continuation:

AUD/USD daily chart analysis

The market has been giving two-way business and what we might see now is a downside continuation as follows:

AUD/USD H4 chart

The bears are lurking to fade rallies in the internal and external target areas. A downside target of 0.6750 is eyed that guards the low-hanging fruit, LHF, below.

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