Forex4you - Analytics

    Forex4you

    547.00 7.00/10
    60% of positive reviews
    Real

    AUD/USD: stuck within range; marginal downside bias

       
    The aussie is still broadly trading in a range, but there is a bearish bias on the 4-hr chart, which could indicate more downside to come.

    The monthly pivot at 0.7712 is also placing a significant amount of resistance just above the exchange rate’s current position, which is also a factor in placing additional downwards pressure on the pair.

    A break below the key 0.7688 hourly peak-and-trough lows could usher in a more bearish environment, and lead to a move down, probably to around the 0.7658 level, and then even perhaps down to the range lows.

    Alternatively, given the longer-term down-trend, confirmation of the larger trend resuming would come from a break below the 0.7532 range lows, with a target then at the S2 monthly pivot at 0.7448.
    AUDUSD01

       
    The aussie is still broadly trading in a range, but there is a bearish bias on the 4-hr chart, which could indicate more downside to come.

    The monthly pivot at 0.7712 is also placing a significant amount of resistance just above the exchange rate’s current position, which is also a factor in placing additional downwards pressure on the pair.

    A break below the key 0.7688 hourly peak-and-trough lows could usher in a more bearish environment, and lead to a move down, probably to around the 0.7658 level, and then even perhaps down to the range lows.

    Alternatively, given the longer-term down-trend, confirmation of the larger trend resuming would come from a break below the 0.7532 range lows, with a target then at the S2 monthly pivot at 0.7448.
    AUDUSD01


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree