Buying Zones for the Australian Dollar on the Daily Timeframe
The Australian Dollar is moving downwards due to selling pressure on the daily timeframe.
The outlook remains for the pair to continue its decline towards the daily demand zone near 0.68910.
Expected Targets
If the pair reaches the identified demand zone, we expect to see a rebound towards 0.69500 and 0.70200.
However, this analysis and the expected upward movement will be invalidated if the demand zone is broken and the price closes below it on a daily candle.
