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    Technical analysis for the AUD/USD – 05.11.2015

    The price consolidated, as expected earlier, fell below 0.7150 support and is now traded at around 0.7130s. Such turn of events was mentioned previously as the first sign of dominating bearish moods. The indicators are bearish as well – R% is oversold, MACD stepped into the negative territory, SS looks to be turning down too. In this situation we expect further decline to the key support at 0.7070/80. However, SS hasn’t reversed completely yet, so it’s worth being cautious as current decline may be just a correction and the uptrend may recommence.

    AUD051115

    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 price consolidated, as expected earlier, fell below 0.7150 support and is now traded at around 0.7130s. Such turn of events was mentioned previously as the first sign of dominating bearish moods. The indicators are bearish as well – R% is oversold, MACD stepped into the negative territory, SS looks to be turning down too. In this situation we expect further decline to the key support at 0.7070/80. However, SS hasn’t reversed completely yet, so it’s worth being cautious as current decline may be just a correction and the uptrend may recommence.

    AUD051115

    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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