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    Technical analysis for the AUDUSD on 09.06.2015

    The AUDUSD has corrected to the descending trend line at 0.7720

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 120 pips Max. 0.7810

    Min. 0.7600

    audusd3

    Like its other major opponents, the Australian dollar has corrected either into the range of the trend line or to one of the channel’s borders.

    The 0.7720 trend line is acting the key resistance  for the AUD. Bulls approached this mark at low volume, current divergence suggests weakening upside potential.

    Short-term consolidation is likely to occur below the 0.7720 mark. Then we expect a bounce down and attempt to test support at 0.7600 for the third time.

    Alternative scenario: the downtrend will turn up if price breaks and holds above 0.7720.

    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 corrected to the descending trend line at 0.7720

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 120 pips Max. 0.7810

    Min. 0.7600

    audusd3

    Like its other major opponents, the Australian dollar has corrected either into the range of the trend line or to one of the channel’s borders.

    The 0.7720 trend line is acting the key resistance  for the AUD. Bulls approached this mark at low volume, current divergence suggests weakening upside potential.

    Short-term consolidation is likely to occur below the 0.7720 mark. Then we expect a bounce down and attempt to test support at 0.7600 for the third time.

    Alternative scenario: the downtrend will turn up if price breaks and holds above 0.7720.

    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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