Thoughts on $AUDUSD after recent pullback
Been watching $AUDUSD pretty closely these past few days. The move down to around 0.68915 feels like it's testing a fairly significant support level that's held up well on prior dips. If it can find a footing here, a rebound towards the 0.6950 area isn't out of the question, given the broader trend on weekly charts.
However, a sustained break below 0.6880, especially on a daily close, would seriously invalidate that thesis for me. That would suggest the sellers are genuinely in control for the short term, and we'd likely be looking at a retest of much lower levels, perhaps even down to 0.6820. It's a critical juncture, and I'm not seeing definitive signals one way or the other yet.
Yeah, I'm eyeing that 0.6880 level too. It seems like a pretty critical line in the sand, and a break below would definitely shift the short-term sentiment. Curious to see how it plays out today.