The aussie has broken down through a key level following the results of the Greek referendum, which have put global financial markets into a bit of a tailspin.
It has recovered a little today, but the the overall chart is still very bearish, now that the pair has broken down below its previous lows at 0.7532.
Ultimately I see this down-trend continue lower, with a break below the S1 monthly pivot, including a 16 point margin, so at 0.7430, providing confirmation, and an extension from there, probably reaching down to the next target at the 100% extrapolation of the height of the correction, at 0.7280.
The aussie has broken down through a key level following the results of the Greek referendum, which have put global financial markets into a bit of a tailspin.
It has recovered a little today, but the the overall chart is still very bearish, now that the pair has broken down below its previous lows at 0.7532.
Ultimately I see this down-trend continue lower, with a break below the S1 monthly pivot, including a 16 point margin, so at 0.7430, providing confirmation, and an extension from there, probably reaching down to the next target at the 100% extrapolation of the height of the correction, at 0.7280.