Australian to US dollar fell during Friday’s trading below wide consolidation 0.7383-0.6900 drawn from the middle of the last year. As a result, long-term, more than 6-ytear lows on the Aussie has been deepened to 0.6862. If the price closes below that level, then traders will have an opportunity to look for supply signals.
H1 chart clearly shows that the price so far closed in the range of a new low and the consolidation lower limit, which now acts as a resistance. Any move towards 0.6900 should be treated as short opportunity. Potential target may be found near 0.6862, which during Friday’s trading was already tested twice (range of 45 pips).
