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    Technical analysis for the AUDUSD on 30.07.2015

    The AUDUSD is consolidating around the descending trend line of 0.7325

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 120 pips Max. 0.7450

    Min. 0.7200

    audusd12

    Bulls attempted to break above the descending trend line of 0.7330 yesterday, but the test turned out false and the price bounced down.

    Strong 0.7325 resistance is situated close to the 0.7330 trend line and is now acting as additional barrier on the way up. Another test of 0.7325 – 0.7330 will trigger correction to 0.7260.

    For the downtrend to continue, bears have to break and hold below the support of 0.7260. The breakout, if occurs, will open the way towards 0.7200.

    Alternative scenario: correction up will be a possibility if price breaks resistance at 0.7325.

    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 around the descending trend line of 0.7325

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 120 pips Max. 0.7450

    Min. 0.7200

    audusd12

    Bulls attempted to break above the descending trend line of 0.7330 yesterday, but the test turned out false and the price bounced down.

    Strong 0.7325 resistance is situated close to the 0.7330 trend line and is now acting as additional barrier on the way up. Another test of 0.7325 – 0.7330 will trigger correction to 0.7260.

    For the downtrend to continue, bears have to break and hold below the support of 0.7260. The breakout, if occurs, will open the way towards 0.7200.

    Alternative scenario: correction up will be a possibility if price breaks resistance at 0.7325.

    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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