AUDUSD seems rattled by slide in Yuan
• The cross nearly tested the 61.8 fib reaction (Jan 2016-Jan 2018 rally) and held last week
• Today in the Asian session, again drifted back to the previous week's low and managed to hold
• The daily study RSI is indicating a higher low though the price has been propelling down
• Immediate support finds at 0.7330 below this 0.7270 exists its 100.0fe or A-B-C corrective structure
• We still believe the cross has a limited downside risk (cmp to -1.50%) in the near term
• Resistance seems to be at 0.7440 and 0.7500
• Today in the Asian session, again drifted back to the previous week's low and managed to hold
• The daily study RSI is indicating a higher low though the price has been propelling down
• Immediate support finds at 0.7330 below this 0.7270 exists its 100.0fe or A-B-C corrective structure
• We still believe the cross has a limited downside risk (cmp to -1.50%) in the near term
• Resistance seems to be at 0.7440 and 0.7500
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