Wednesday 22 April 2015

Range Continues For AUD/USD




AUD/USD has been consolidating for quite a few weeks now and it does not look like consolidation will end any time soon. The pair has been testing the resistance at 0.7810, but it has not been able to break above that level. While that is very much possible, I, personally, am on the lookout for any candlestick patterns forming under the resistance level indicating a new move to the downside, because for the moment I believe range will continue and the pair will head for the support at 0.7550 again.

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