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    Technical analysis for the AUDUSD on 09.07.2015

    The AUDUSD: upside correction expected

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 0.7600

    Min. 0.7370

    audusd5

    The downtrend from 0.7850 resistance has shown its first signs of reversal for correction – the price escaped from the descending channel 0.7435.

    Besides the breakout of the descending channel’s upper border at 0.7435, bulls managed to break above the resistance of 0.7460, which is now acting as support.

    The re-test of 0.7460 support will most likely trigger the rebound up and continuation of the upside correction. Potential growth targets are situated at 0.7530, 0.7600.

    Alternative scenario: the re-test of 0.7460 support will allow the bears to push the price down to 0.7370 for the second time.

    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: upside correction expected

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 0.7600

    Min. 0.7370

    audusd5

    The downtrend from 0.7850 resistance has shown its first signs of reversal for correction – the price escaped from the descending channel 0.7435.

    Besides the breakout of the descending channel’s upper border at 0.7435, bulls managed to break above the resistance of 0.7460, which is now acting as support.

    The re-test of 0.7460 support will most likely trigger the rebound up and continuation of the upside correction. Potential growth targets are situated at 0.7530, 0.7600.

    Alternative scenario: the re-test of 0.7460 support will allow the bears to push the price down to 0.7370 for the second time.

    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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