AUD/USD threatens a drop towards September lows as trendline support looks to crack

AUD/USD down 0.6% on the day to 0.7236 currently

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The downside push in the pair is continuing as sellers keep near-term control and the latest risk aversion episode in European trading is helping to exacerbate the momentum.

The shove lower today sees price threatening a break below trendline support @ 0.7250 and that will open up the way for sellers to target the September lows @ 0.7170 next.

The pair is now on the cusp of testing key trendline support there as well with sellers eyeing the 1.0300 handle as a key technical target on the way down.

November 19, 2021 at 11:57PM
Justin Low
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