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Technical analysis for the AUDUSD on 30.06.2015

The AUDUSD: upside correction from 0.7600 support

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 0.7750

Min. 0.7600

audusd16

After the third test of strong 0.7600 support the price rebound up at low volume.

At the moment potential correction target is considered to be the upper border of the descending channel – level 0.7700, which is crossed by the inclined resistance, earlier the ascending trend line.

If the price grows above the upper border of the descending channel at 0.7700, the next target will be situated at the descending trend line of 0.7750.

Alternative scenario: downtrend will continue if price breaks and holds below strong support of 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: upside correction from 0.7600 support

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 0.7750

Min. 0.7600

audusd16

After the third test of strong 0.7600 support the price rebound up at low volume.

At the moment potential correction target is considered to be the upper border of the descending channel – level 0.7700, which is crossed by the inclined resistance, earlier the ascending trend line.

If the price grows above the upper border of the descending channel at 0.7700, the next target will be situated at the descending trend line of 0.7750.

Alternative scenario: downtrend will continue if price breaks and holds below strong support of 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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