AUDUSD: Remains weak and rebounds

Fundamental analysis:

According to the Russian TASS news agency, Russian Presidential Press Secretary Peskov said on September 14 that buyers from all over the world are showing a surge in interest in buying Russian natural gas, which will fill the gap left by falling demand in euro zone countries. Peskov said, “Europe is not the only region that consumes gas, nor is it the only continent that needs gas to ensure rapid development. Some regions are developing faster and have more ambitious development plans. Demand for Russian gas in these regions will be able to Completely fill the demand gap in Europe

AUDUSD AUDUSD daily chart

A brief technical analysis:

From the daily chart: the short-term exchange rate has rebounded in a narrow range after a sharp drop. MACD is running below the 0-axis and the volume can be slightly increased. The RSI is rapidly falling. It is expected that the exchange rate will likely fall further. 

Long-short turning point: 0.7030

Suppression bit: 0.7200 0.7400

Support level: 0.6850 0.6650

Trading strategy: bearish below 0.7030, target 0.6850, 0.6650

Alternative strategy: bullish above 0.7030, target 0.7200, 0.7400