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Technical analysis for the AUDUSD on 29.06.2015

The AUDUSD has tested tough support at 0.7600 for the third time

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 0.7755

Min. 0.7600

audusd15

Bears have been testing round level of 0.7600 for the whole June. Today’s decline into tough support of was accompanied with the gap, but the price failed to break the barrier.

Although bears managed to refresh previous lows, short-term breakout appeared to be false. The price bounced up towards 0.7645

In a short run, we expect consolidation at around 0.7645, followed by the rebound to the upper border of the descending channel at 0.7700.

Alternative scenario: another decline into tough support at 0.7600, followed by consolidation, is a possibility.

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 tested tough support at 0.7600 for the third time

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 0.7755

Min. 0.7600

audusd15

Bears have been testing round level of 0.7600 for the whole June. Today’s decline into tough support of was accompanied with the gap, but the price failed to break the barrier.

Although bears managed to refresh previous lows, short-term breakout appeared to be false. The price bounced up towards 0.7645

In a short run, we expect consolidation at around 0.7645, followed by the rebound to the upper border of the descending channel at 0.7700.

Alternative scenario: another decline into tough support at 0.7600, followed by consolidation, is a possibility.

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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