- Brexit fallout continues to worsen, flight to safety is helping currencies like Yen and weakening high yielding and commodity currencies.
- Downward pressure on the Aussie evident, AUD/USD slips below the 0.75 handle to hit session lows of 0.7408.
- Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-erases-knee-jerk-spike-slumps-over-30-pips-to-hit-lows-around-075-handle-after-RBA-stands-pat-231500) has achieved all targets.
- Bearish bias in the pair, Techs support further downside, RSI and Stochs point south.
- We see break below 100-DMA, breach of major trendline support at 0.7450. Scope for downside drag till 0.7360.
Recommendation: Book partial profits, lower trailing stops to 0.7450, target 0.74/ 0.7360
