AUD/USD Falls to New Lows on the Year

audusd 4h chart 11/25

The AUD/USD is sliding sharply after a bullish correction the first half of November. The latest US GDP data is helping from a USD-strength stand point, but the AUD/USD was already bearish without the USD story.

AUD/USD is falling without much help of a strong USD. It has affirmed a bearish continuation signal earlier in the month, but it has now extended another leg lower, into a 4-year low. At this point, we should expect resistance around 0.8575-0.86, then 0.8650 on a pullback. There is downside risk toward 2010’s lows, one at 0.8315, then at 0.8066. We might expect AUD/USD to stabilize in this area in 2015, but for now, the market is bearish and we should expect sellers on┬árallies – as long as price is holding below 0.88. Above 0.88, we might have shifted to a sideways market.

Previous Post by Author: GBP/JPY – Double Top vs. Rising Trendline

Previous articleThe Western Union-Bitcoin Lol Moment
Next articleSpectroCoin Allows Clients to Withdraw Cash in More than 25 Countries in Europe & Central Asia
Fan Yang has been a professional forex trader and analyst since 2007. He specializes in technical analysis and has a Chartered Market Technician designation since 2011. He was the chief technical strategist at CMSFX He was also the founder and chief currency strategist at FXTimes Over the years, Fan has not only been a trader and analyst but also an educator. As a proponent of both technical and fundamental analysis in trading, Fan advocates simplicity and discipline as key factors in making trading decisions when faced with so many "clues" and "signals". Currently Fan Yang is the chief currency analyst and webinar instructor at