As we see the audusd had retrace to a strong resistance area after a drop now we expected more drop on AUD against dollar
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as we see this pair had reached @ strong support area and unable to break this support
its a great opportunity to buy this pair with low risk and higher rewards
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Price broke out of our long term descending overlap support line and is approaching our first support at 0.7760 (horizontal swing low support). A strong bounce might occur above this level, pushing price up to our major resistance at 0.7812 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension). Ichimoku cloud is also showing...
The down trend broke the 100 MA at 0.7800, and is at the neck line 0.77131 of the triple top which is a sopport line forming a triangle. We can go short at 0.7696 and take profit at the strong resistance line 0.76497 and target 2 if it breaks the resistance line, TP 0.75135 and a stop loss 0.77390.
Most Pairs againts the dollar seems to continue moving downward as dollar is getting its momentum to the upside. Reason for shorting this is already at the chart.
Short around .79119
SL: .80031
TP1: .78040
TP2: .77015
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*Disclaimer :
This analysis not include personal feeling/opinion, and...
The Australian dollar has been consolidating on the daily chart since mid year. It has continued to compress into a tighter formation and now appears to be nearing the end of a correction to the down move that began near end of 2014 on weekly chart.
On the monthly chart, all indicators have pulled back from extreme...
