AUD/USD Price Analysis: A break from 0.6950 is on the cards By fx_ross AUDUSD Technical Analysis
Eyes on the lower quadrant of the New York session range.
Meanwhile, the following is a top-down analysis outlining the price imbalances that can be watched for mitigation. There is a case for the downside to mitigate the price imbalances below the market, as illustrated above.The price is testing the M-formation's neckline which could be the last defence before the bears move in. However, there are price imbalances to the upside and a break of the neckline around 0.6950 opens risk to the upside.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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