AUD/USD Outlook (30 August 2022)
AUDUSD traded significantly lower on Friday as the DXY strengthen causing the AUSDUSD to reject the 0.70 price level and the diagonal downward trendline.
The price fell to test the support level of 0.6840 before bouncing to the upside. Look for the AUDUSD to climb towards the 0.6920 price level and if the price does climb beyond that, the price could test the diagonal trendline again. Look for a rejection of the levels to signal a continuation of the downtrend.
Look for selling opportunities taking price lower towards the next key support levels of 0.68 and 0.67
The price fell to test the support level of 0.6840 before bouncing to the upside. Look for the AUDUSD to climb towards the 0.6920 price level and if the price does climb beyond that, the price could test the diagonal trendline again. Look for a rejection of the levels to signal a continuation of the downtrend.
Look for selling opportunities taking price lower towards the next key support levels of 0.68 and 0.67
