FX CHART OF THE DAY: AUDUSD ON RISK OF FURTHER DECLINE

AUDUSD confirming another test of its downtrend on weekly basis, by bouncing of lower 1st standard deviation from weekly (120-h) mean.

Expanding volatility (marked by 3.2 standard deviations from weekly mean) is confirming the risk of further delcine.

Traders can take short off the lower 1st standard deviation (at 0.6940) and stop at the weekly mean (at 0.7010).

Traders should also mind the AUD calendar news incoming over the next 2 days!