AUDUSD Forecast
The AUDUSD had a significant bearish momentum yesterday after failed to make a clear break above 1.0877, break below 1.0770 and hit 1.0585 earlier today in Asian session. The bias is bearish in nearest term but note that 1.0581/40 still considered as a strong intraday support and need a clear break below that area to continue the bearish pressure testing 1.0440 support area. Immediate resistance at 1.0704 (current high). A clear break above that area would lead us to neutral zone in nearest term as direction would become unclear but as long as price stays below 1.0877 the bearish phase should remain intact.
