Forex4you - Analytics

    Forex4you

    565.50 6.50/10
    60% of positive reviews
    Real

    AUD/USD: key breakout from consolidation lower

    The aussie has broken down through a key level following the results of the Greek referendum, which have put global financial markets into a bit of a tailspin.

    It has recovered a little today, but the the overall chart is still very bearish, now that the pair has broken down below its previous lows at 0.7532.

    Ultimately I see this down-trend continue lower, with a break below the S1 monthly pivot, including a 16 point margin, so at 0.7430, providing confirmation, and an extension from there, probably reaching down to the next target at the 100% extrapolation of the height of the correction, at 0.7280.
    AUDUSD06

    The aussie has broken down through a key level following the results of the Greek referendum, which have put global financial markets into a bit of a tailspin.

    It has recovered a little today, but the the overall chart is still very bearish, now that the pair has broken down below its previous lows at 0.7532.

    Ultimately I see this down-trend continue lower, with a break below the S1 monthly pivot, including a 16 point margin, so at 0.7430, providing confirmation, and an extension from there, probably reaching down to the next target at the 100% extrapolation of the height of the correction, at 0.7280.
    AUDUSD06


    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