AUDUSD is stalling at some Fibonacci extensions, but looks to extend further.

The AUDUSD has broken out of a bearish wedge and also has a bearish pennant that is trying to play out. Currently, the fall has stalled at the 161% extension of the last move higher at the end of April, and also the 127% extension of the range from February to the mid April highs. A break of the .6935 should expose a move below the .6875 level as the daily RSI is not oversold yet.

AUDUSD Triangle Break

Blake Morrow