AUD/USD: Equidistant Channel Zigzag

AUD/USD had a poor CAPEX data, there is a scope for more rate cuts and latest technical perspective looks bearish. Adding to fundamental aspects, AUD/USD chart shows a bearish equidistant channel zig zag with 1.7590 and 1.7565 being targets for AUD/USD. Pullback toward POC 0.7690-80 ( L4, previous swing, 38.2) could be used for short trades. If the pair manages to close below the channel then 1.7590 and 1.7565 will be the targets.

AUD/USD Daily Chart

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