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Technical analysis for the AUDUSD on 12.06.2015

The AUDUSD: no significant changes

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 0.7870

Min. 0.7600

audusd6

The AUD is consolidating above the 0.7700 support for three days, which has acted as strong resistance at the beginning of the week.

The Australian dollar’s devel0pment is now unclear, as the NZD (which usually moves in the same direction) is now falling on the back of recent interest rate cut announcement.

The price is currently traded above the strong support of 0.7700, so growth potential preserves. The main growth targets are situated at 0.7815, 0.7870 resistance levels.

Alternative scenario: if price breaks and holds below the 0.7700 support, it will open the way down to the weekly low at 0.7600.

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: no significant changes

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 0.7870

Min. 0.7600

audusd6

The AUD is consolidating above the 0.7700 support for three days, which has acted as strong resistance at the beginning of the week.

The Australian dollar’s devel0pment is now unclear, as the NZD (which usually moves in the same direction) is now falling on the back of recent interest rate cut announcement.

The price is currently traded above the strong support of 0.7700, so growth potential preserves. The main growth targets are situated at 0.7815, 0.7870 resistance levels.

Alternative scenario: if price breaks and holds below the 0.7700 support, it will open the way down to the weekly low at 0.7600.

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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