Daily Technical Report
AUD/USD:Exited Short position. All 3 objectives met. AUD/USD is extending its decline, having recently broken through the 1.0000 psychological level.
The sustained move below 1.0000 is now compounding downside pressure on the rate's multi-year uptrend and push back towards 0.9611.
Elsewhere, the Aussie dollar remains strong against the New Zealand dollar. The pair is now is within a temporary positive cycle structure while it holds above its 200-day MA.
The Aussie dollar has reversed gains against the Japanese yen and is now trading back below the long-term 200-day MA which is currently at 82.80. Watch for further downside scope into 72.00 which would signal further unwinding of risk appetite.