AUD/USD: Support line eroded – Commerzbank

The AUD/USD pair has broken the support line at 0.6657 and now has room for more falls, Karen Jones from Commerzbank informs. AUD/USD is trading at 0.6639.

Key quotes

“AUD/USD remains capped by the accelerated downtrend at .6718 and has now eroded the 2016-2020 support line at .6657, which has left it vulnerable to further weakness to the .6535/.6488 TD supports on the weekly and monthly charts.”