AUDUSD Forecast
The AUDUSD continued its bearish momentum yesterday, break below 1.0770 and hit 1.0695 earlier today in Asian session. The bias remains bearish in nearest term targeting 1.0581 support area. On daily below we can see 1.0770 provided an intraday resistance. Another move back above 1.0770 would lead us to neutral zone but as long as price moves below 1.0877 the bearish correction intraday outlook remains intact. It is too early to talk about a bearish reversal scenario, but a clear break below 1.0581 may give us a good reason to think about a bearish reversal, at least in a medium term outlook.