AUD/USD has
been moving to the downside for three weeks now, but whether that move will
continue appears a little uncertain for now. The pair did break out below the last
low at 0.7490, reaching a new low at 0.7473, but it also bounced off from the
latter level and formed a pair of spinning top candlesticks on the daily
time-frame. AUD/USD is still pushing to the downside despite those candlesticks
and the question is whether it will manage to break out below the
aforementioned support at 0.7473, or the signal for a move to the upside will
prove valid. Should the pair break out below 0.7473, there will likely be a
further move to the downside towards 0.7200, but if the pair bounces off from
that level the closest target is at 0.7560, which is the (MA)89 on the daily
time-frame.
It's still testing the support at 0.7473.
ReplyDeleteReversed yesterday.
ReplyDeleteKeeping the consolidation range!
ReplyDeleteVery helpful analysis, thanks!
ReplyDeleteGood bearish trend.
ReplyDeleteUseful information.
ReplyDelete