AUDUSD: Shorters are still working

Fundamental analysis:

The White House said that when the pound fell sharply last Friday, US President Biden held a meeting with his senior economic advisers. The Biden administration will continue to pay close attention to the global financial markets. "We will continue to pay close attention to the global market," White House spokesman Karine Jean Pierre said at a news conference on Monday. "On the issue of sterling, the President and Vice President held a meeting with senior economic advisers last Friday and, as usual, learned about the latest developments in the global economy."

AUDUSD daily chart

Technical analysis:

From the daily chart, we can see that the short-term exchange rate continues to accelerate downward, MACD runs below the 0 axis and the volume can be increased, RSI continues to decline, and the exchange rate probability is expected to further decline.  

Empty turning point: 0.6850

Pressing position: 0.7030 0.7200

Support position: 0.6650 0.6450

Trading strategy: bearish at 0.6850, target 0.6650, 0.6450

Alternative strategy: bullish above 0.6850, target 0.7030, 0.7200