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    Technical analysis for the AUD/USD – 23.10.2015

    Strong 0.7200 -0.7170 support range held back the price from further decline. The pair retraced back up and is now oscillating at 0.7270/80. Indicators seem to be less sure that strong bearish potential will preserve – R% and MACD are turned up, SS keeps falling. The picture is unclear, and current growth may be both correction or a new wave of the uptrend. Future development will become clearer when the price either grows above 0.7320, which will give reasons to expect another ascension to the new high at 0.7380/0.7400, or pulls back to 0.7200, which will be the indication of dominating bearish potential and high possibility of support breakout within 0.7200 -0.7170 range.

    AUD231015

    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!

    Strong 0.7200 -0.7170 support range held back the price from further decline. The pair retraced back up and is now oscillating at 0.7270/80. Indicators seem to be less sure that strong bearish potential will preserve – R% and MACD are turned up, SS keeps falling. The picture is unclear, and current growth may be both correction or a new wave of the uptrend. Future development will become clearer when the price either grows above 0.7320, which will give reasons to expect another ascension to the new high at 0.7380/0.7400, or pulls back to 0.7200, which will be the indication of dominating bearish potential and high possibility of support breakout within 0.7200 -0.7170 range.

    AUD231015

    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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