AUD/USD Price Analysis: Bulls pressured by eye a break of 0.6820s

• AUD/USD is still on the front side of the bear move.
• Bulls need to get above the 0.6820s which will open risk to 0.6850 prior support.

AUD/USD Price Analysis: Bears are in control testing bull's commitments at last week's lows, the bears moved in with 0.6750 eyed while last month's lows remain a downside target on the way to a test of 0.6700. The following illustrates the market structure and the prospects of a move lower while on the front side of the trend:

AUD/USD prior analysis

AUD/USD update

AUD/USD is still on the front side of the move and until the bulls can get through the trendline resistance, the bias remains to the downside with last month's lows in sight. However, a move above the 0.6820s opens risk to 0.6850 prior support and a deeper move into the Fibonacci scale: