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    Technical analysis for the AUDUSD on 24.07.2015

    The AUDUSD has breached 0.7325 support

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 140 pips Max. 0.7370

    Min. 0.7200

    audusd9

    The Australian dollar recommenced its downtrend after a two-week range trading within 0.7370 – 0.7490. This morning, the price has breached the last week’s low at 0.7325, which indicates continuation of the bearish trend.

    Level 0.7325 is now acting as strong resistance. The re-test of this mark will most likely trigger consolidation, followed by the bounce down.

    Potential decline targets are situated at round levels of 0.7300, 0.7250, 0.7200.

    Alternative scenario: long consolidation below 0.7325 resistance is probable.

    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 breached 0.7325 support

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 140 pips Max. 0.7370

    Min. 0.7200

    audusd9

    The Australian dollar recommenced its downtrend after a two-week range trading within 0.7370 – 0.7490. This morning, the price has breached the last week’s low at 0.7325, which indicates continuation of the bearish trend.

    Level 0.7325 is now acting as strong resistance. The re-test of this mark will most likely trigger consolidation, followed by the bounce down.

    Potential decline targets are situated at round levels of 0.7300, 0.7250, 0.7200.

    Alternative scenario: long consolidation below 0.7325 resistance is probable.

    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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