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Technical analysis for the AUDUSD on 16.06.2015

The AUDUSD keeps slowly trading to the upside

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 0.7870

Min. 0.7600

audusd8

The Australian dollar has been consolidating below 0.7760 resistance for quite a while, but still trading in the ascending channel.

As long as trading keeps within the channel, the uptrend potential will preserve, despite low trading volumes. In a short run, we can expect a pullback down to the descending trend line at 0.7730.

The test of the 0.7730 mark will most likely trigger the rebound up and continuation of the uptrend. Potential growth targets are 0.7760, 0.7815.

Alternative scenario: to turn the uptrend down, bears have to break and hold below strong support of 0.7700. If they succeed, the breakout will open the way to 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 keeps slowly trading to the upside

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 0.7870

Min. 0.7600

audusd8

The Australian dollar has been consolidating below 0.7760 resistance for quite a while, but still trading in the ascending channel.

As long as trading keeps within the channel, the uptrend potential will preserve, despite low trading volumes. In a short run, we can expect a pullback down to the descending trend line at 0.7730.

The test of the 0.7730 mark will most likely trigger the rebound up and continuation of the uptrend. Potential growth targets are 0.7760, 0.7815.

Alternative scenario: to turn the uptrend down, bears have to break and hold below strong support of 0.7700. If they succeed, the breakout will open the way to 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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