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    Technical analysis for the AUD/USD – 16.11.2015

    Bullish divergence in MACD, mentioned in the previous forecasts, manifested in a sharp rebound up from 0.7020 mark. The price retraced  to level 0.7140/50, which became a strong resistance and is now trading at 0.7120/30. Attempts to break this barrier on the way up failed. However, all indicators turned up. suggesting further growth. Such situation gives reasons to anticipate another bounce up to level 0.7220/00 or even higher, to 0.7250 resistance. However, even if the price ascends, it won’t indicate any possibility of the medium-term growth. To confirm further uptrend, bulls have to push the price towards 0.7400/0.7390 resistance. Decline below 0.7080/70 support, on the other hand, will be a signal for another stage of decline within the dominating bearish trend. The main decline targets are situated at the annual lows of 0.6940, 0.6900/10.

    AUD161115

    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!

    Bullish divergence in MACD, mentioned in the previous forecasts, manifested in a sharp rebound up from 0.7020 mark.  The price retraced  to level 0.7140/50, which became a strong resistance and is now trading at 0.7120/30. Attempts to break this barrier on the way up failed. However, all indicators turned up. suggesting further growth. Such situation gives reasons to anticipate another bounce up to level 0.7220/00 or even higher, to 0.7250 resistance. However, even if the price ascends, it won’t indicate any possibility of the medium-term growth. To confirm further uptrend, bulls have to push the price towards 0.7400/0.7390 resistance. Decline below 0.7080/70 support, on the other hand, will be a signal for another stage of decline within the dominating bearish trend. The main decline targets are situated at the annual lows of 0.6940, 0.6900/10.

    AUD161115

    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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