The AUDUSD has breached strong support at 0.8060
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 120 pips | Max. 0.8150Min. 0.7955 |
Having reached level 0.8150, the uptrend turned down for correction. The signal for correction was the breakout of the lower border of the ascending channel and support at 0.8060.
Today we expect the price to approach the last week’s high at 0.8015. If decline continues even further, the next target will be situated at the ascending trend line of 0.7955.
The test of the 0.7955 trend will most likely trigger a long consolidation.
Alternative scenario: the breaking of the ascending trend line 0.7955 will turn the bullish trend down.
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 strong support at 0.8060
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 120 pips | Max. 0.8150Min. 0.7955 |
Having reached level 0.8150, the uptrend turned down for correction. The signal for correction was the breakout of the lower border of the ascending channel and support at 0.8060.
Today we expect the price to approach the last week’s high at 0.8015. If decline continues even further, the next target will be situated at the ascending trend line of 0.7955.
The test of the 0.7955 trend will most likely trigger a long consolidation.
Alternative scenario: the breaking of the ascending trend line 0.7955 will turn the bullish trend down.
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!