The Australian Dollar Technical Forecast: AUD/USD Bears Aim for Breakout
The Australian Dollar is facing bearish pressure as traders look to break below key support levels against the US Dollar. The AUD/USD pair is currently in a downtrend, with bears pushing for a breakout.
Technical indicators suggest that the AUD/USD pair is likely to continue its downward movement in the near term. Support levels to watch include 0.7500 and 0.7450, with a break below these levels potentially leading to further losses.
Traders should keep a close eye on key support levels and be prepared for potential downside moves in the AUD/USD pair. It is important to monitor price action and technical indicators to gauge the strength of the bearish momentum.
Overall, the technical forecast for the Australian Dollar against the US Dollar remains bearish, with traders focusing on potential breakout opportunities in the near term.