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Technical analysis for the AUDUSD on 10.06.2015

The AUDUSD has breached the descending trend line at 0.7700

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 0.7870

Min. 0.7600

audusd4

Two-day consolidation below the trend line of 0.7700 was followed by the breakout at high volume.  The breakout of the trend line and resistance at  0.7700 suggests a reversal up.

The US dollar is currently falling against most of its major currency competitors, which is a good signal for the bulls to start buying.

Potential growth targets are situated at the two resistance levels: 0.7815, 0.7870.

Alternative scenario: long consolidation above 0.7700 support is a possibility.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

The AUDUSD has breached the descending trend line at 0.7700

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 0.7870

Min. 0.7600

audusd4

Two-day consolidation below the trend line of 0.7700 was followed by the breakout at high volume.  The breakout of the trend line and resistance at  0.7700 suggests a reversal up.

The US dollar is currently falling against most of its major currency competitors, which is a good signal for the bulls to start buying.

Potential growth targets are situated at the two resistance levels: 0.7815, 0.7870.

Alternative scenario: long consolidation above 0.7700 support is a possibility.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!



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