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    Technical analysis for the AUDUSD on 14.07.2015

    The AUDUSD: downtrend has turned into consolidation

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 110 pips Max. 0.7530

    Min. 0.7300

    audusd6

    The Australian dollar consolidated within the range of 0.7490 – 0.7370 for the most of the last week, forming the rectangle – which is considered to be a pattern indicating continuation of the trend.

    To confirm further decline, however, bears will have to break and hold below 0.7370 support. If they succeed, strong downtrend will continue.

    Potential decline target will be found at 0.7300 support.

    Alternative scenario: the breaking of the descending trend line at 0.7435 will allow the bulls to correct the price into 0.7465, 0.7490, 0.7530.

    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: downtrend has turned into consolidation

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 110 pips Max. 0.7530

    Min. 0.7300

    audusd6

    The Australian dollar consolidated within the range of 0.7490 – 0.7370 for the most of the last week, forming the rectangle – which is considered to be a pattern indicating continuation of the trend.

    To confirm further decline, however, bears will have to break and hold below 0.7370 support. If they succeed, strong downtrend will continue.

    Potential decline target will be found at 0.7300 support.

    Alternative scenario: the breaking of the descending trend line at 0.7435 will allow the bulls to correct the price into 0.7465, 0.7490, 0.7530.

    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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