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    AUD/USD: in the narrowing channel on 18.02.2016

    On the four-hour and daily charts the pair AUD/USD is declining in the downward channel.

    On the daily chart the upper limit of the downward channel is close the resistance level 0.7225 (ЕМА144 on the daily chart).

    On the four-hour and hourly charts the indicators OsMA and Stochastic give signals for short positions.

    Breakout of support level 0.7095 (ЕМА50 on the daily chart and ЕМА200, ЕМА144 on the 4-hour chart) will enable further decline to support levels of 0.6975 and 0.6950, which is crossed by the middle of the downward channel on the daily chart. Breakout of the level of 0.6910 (Fibonacci 0% to the last wave of decrease in the pair since July 2014) will confirm completion of the upward correction and the pair will go to the key support levels of 0.6350, 0.6000 (lows of 2008 – 2009).

    The rise above the level of 0.7225 (ЕМА144) and consolidation above the level of 0.7340 (ЕМА200 on the daily chart) can cancel downward scenario.

    However, upward scenario is unlikely, due to the difference in the monetary policies of the US Fed and RBA and the declining prices of the commodity goods.

    Support levels: 0.7095, 0.7000, 0.6975, 0.6950, 0.6910 and 0.6860.
    Resistance levels: 0.7225 and 0.7340.

    Trading tips


    Sell Stop 0.7130.
    Stop-Loss 0.7170.
    Take-Profit 0.7100, 0.6975, 0.6950, 0.6910, 0.6860, 0.6810.

    Buy Stop 0.7190.
    Stop-Loss 0.7150.
    Take-Profit 0.7225, 0.7300.



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