The Australian Dollar keeps being pressed by external factors. Currency strategists at National Australia Bank assume that the Australian Dollar will remain under pressure amid concerns over the global economic slowdown.
The uncertainty will be supported by numerous factors, including China’s economic slowdown, US economic recovery, presidential elections in France and central bank policies.
Forex.
According to the experts of , AUDUSD has suspended the long-term downtrend. The bearish wave A/B of wave level Daily3 is completed. A break below 1.0225 will resume the forming of wave A/B, thus increasing its wave level up to Weekly. The closest major level of support is 0.9860. A break above the local high at 1.0451 will resume the latest upswing - wave А/В of wave level Daily. In this case, 1.0556 and 1.0855 will turn into the closest major levels of resistance.
