(12 MAY 2020)AUD/USD The downside prevails.

(12 MAY 2020)AUD/USD The downside prevails.

12 May 2020, 13:36
Jiming Huang
0
83

au
Pivot
 (invalidation): 0.6470
Our preference
Short positions below 0.6470 with targets at 0.6420 & 0.6390 in extension.
Alternative scenario
Above 0.6470 look for further upside with 0.6500 & 0.6530 as targets.
Comment
As Long as the resistance at 0.6470 is not surpassed, the risk of the break below 0.6420
remains high.

(By Swissquote TRADING CENTRAL)