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    Technical analysis for the AUD/USD – 20.10.2015

    The situation in the pair hasn’t changed – the price has remained in a narrow sideways range of 0.7320-0.7250 and is now traded at 0.7270/80. Indicators are unclear, although the fact that SS is moving downside and MACD stepped into the negative zone gives reasons to consider strengthening bearish moods. The exit from the ascending trend line border (blue line) suggests further decline as well. Therefore, we expect the price to fall into 0.7200 support, which, however, won’t change general bullish picture. The first valid signal of a reversal down will be received when the pair falls below 0.7200 -0.7170 support range.

    AUD201015

     

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

    The situation in the pair hasn’t changed – the price has remained in a narrow sideways range of 0.7320-0.7250 and is now traded at 0.7270/80. Indicators are unclear, although the fact that SS is moving downside and MACD stepped into the negative zone gives reasons to consider strengthening bearish moods. The exit from the ascending trend line border (blue line) suggests further decline as well. Therefore, we expect the price to fall into 0.7200 support, which, however, won’t change general bullish picture. The first valid signal of a reversal down will be received when the pair falls below 0.7200 -0.7170 support range.

    AUD201015

     

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!


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