Technical Analysis – AUDUSD strongly bearish
Posted on December 4, 2014 at 7:59 am GMTAUDUSD remains bearish as the downtrend continues to new 4-year lows. The pair reached 0.8357 in early European session trading and looks set to head even lower. The decline accelerated after breaking below the 50% Fibonacci level at 0.8546 of the upleg from 0.6008 to 1.1078. The next key technical level that would act as immediate support is seen at 0.8300 and then at 0.8200. To the upside prices are capped at 0.8500. Overall the bias is strongly bearish and [..]