The AUDUSD is consolidating below 0.7325 resistance
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 140 pips | Max. 0.7365Min. 0.7200 |
The Australian dollar is trading with no significant changes. The price has tested 0.7325 resistance for the second time in two days – the level acted as support last week.
The descending trend line of 0.7355 is situated a bit higher than 0.7325 resistance and acts as additional barrier on the way up.
The test of 0.7325 or 0.7355 will most likely support continuation of the downtrend. Potential decline targets in this case will be found at 0.7260, 0.7200.
Alternative scenario: the breaking of the descending trend line at 0.7355 will allow the bulls to turn the bearish trend up for correction.
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 is consolidating below 0.7325 resistance
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 140 pips | Max. 0.7365Min. 0.7200 |
The Australian dollar is trading with no significant changes. The price has tested 0.7325 resistance for the second time in two days – the level acted as support last week.
The descending trend line of 0.7355 is situated a bit higher than 0.7325 resistance and acts as additional barrier on the way up.
The test of 0.7325 or 0.7355 will most likely support continuation of the downtrend. Potential decline targets in this case will be found at 0.7260, 0.7200.
Alternative scenario: the breaking of the descending trend line at 0.7355 will allow the bulls to turn the bearish trend up for correction.
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!