XM Group - Analytics

    XM Group

    606.00 6.50/10
    72% of positive reviews
    Real

    Technical Analysis – AUDUSD bearish at 6-year lows, falling cloud weighs

    AUDUSD remains bearish and is hovering at 6-year lows. The bias to the downside is quite strong as the tenkan-sen line is below the kijun-sen line and also the RSI is below 50. The falling 200-day moving average and falling Ichimoku cloud also highlight the underlying bearish market bias.

    From current levels, support is seen at the 6-year low of 0.7371 touched last week. A break below this would accelerate a fall towards 0.7250. To the upside, resistance is at 0.7555.

    Only a decisive break above the peak of 0.8162 would weaken the bearish trend that has been in place since the decline from 0.9400 (September 2014).

    Risk Warning: Forex, Commodities, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you fully understand the risks involved and do not invest money you cannot afford to lose. Please refer to our full Risk Disclosure.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree