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Technical analysis of AUD/USD for August 26, 2015

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Overview:

  • According to the previous events, the AUD/USD pair is still moving below the resistance levels of 0.7240 and 0.7193.
  • It should be noted that today's trading recommendations will have an effect in the long term.
  • Also, we have to remember that history will probably repeat itself at this level again.
  • Sell below the level of 0.7193 with the first target at 0.7089, then it will be continued towards 0.7060 in order to test the strong support.
  • Moreover, notice that the double bottom had already been placed at the level of 0.7045 in the H1 chart if the trend fails to close below the double bottom. Consequently, buy above the level of 0.7045 with targets at 0.7150 and 0.7190.
  • It should be noted that today's trading recommendations will have an effect in the long term.
  • Also, we have to remember that history will probably repeat itself at this level again.
  • Sell below the level of 0.7193 with the first target at 0.7089, then it will be continued towards 0.7060 in order to test the strong support.
  • Moreover, notice that the double bottom had already been placed at the level of 0.7045 in the H1 chart if the trend fails to close below the double bottom. Consequently, buy above the level of 0.7045 with targets at 0.7150 and 0.7190.
  • Notes:

    • The key level is set at 0.7138.
    • We expect a range between the levels of 0.7090 and 0.7193 today.
    • Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might be invalidated.
  • We expect a range between the levels of 0.7090 and 0.7193 today.
  • Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might be invalidated.


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