The AUDUSD keeps correcting to the upside
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 0.7870
Min. 0.7600 |
Unlike the New Zealand dollar, which fell after the publication of fundamental news at 00.00, the Aussie keeps slowly growing.
Bulls reinforced their positions, breaking the descending trend line and resistance at 0.7700. The re-test of the 0.7700 mark, which is now acting as support, was followed by the rebound up.
At the moment trading is carried out within the ascending channel, so the upside potential preserves. The main growth target is situated at 0.7815.
Alternative scenario: the upside correction will turn down if price breaks support at 0.7700.
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 correcting to the upside
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 0.7870
Min. 0.7600 |
Unlike the New Zealand dollar, which fell after the publication of fundamental news at 00.00, the Aussie keeps slowly growing.
Bulls reinforced their positions, breaking the descending trend line and resistance at 0.7700. The re-test of the 0.7700 mark, which is now acting as support, was followed by the rebound up.
At the moment trading is carried out within the ascending channel, so the upside potential preserves. The main growth target is situated at 0.7815.
Alternative scenario: the upside correction will turn down if price breaks support at 0.7700.
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!