AUD/USD Technical Analysis: 3-Month Trend Line Broken.
Arguments:
AUD/USD Technical Strategy: Flat
Support: 0.7379, 0.7323, 0.7259
Resistance:0.7468, 0.7541, 0.7614
The Australian Dollar moved higher against its US partner of course, breaking resistance topping increases subsequent to mid-May. Close term resistance is at 0.7468, the 38.2% Fibonacci retracement, with a break over that on an every day shutting premise uncovering the half level at 0.7541. Then again, a move underneath the 23.6% Fib at 0.7379 opens the entryway for a test of the 14.6% retracement at 0.7323.
The prevailing AUD/USD pattern keeps on favorring the drawback. On account of that, we will regard any on-advancing additions as remedial and look to a rise as a chance to enter short. Meanwhile, we will stay on the sidelines.
Arguments:
AUD/USD Technical Strategy: Flat
Support: 0.7379, 0.7323, 0.7259
Resistance:0.7468, 0.7541, 0.7614
The Australian Dollar moved higher against its US partner of course, breaking resistance topping increases subsequent to mid-May. Close term resistance is at 0.7468, the 38.2% Fibonacci retracement, with a break over that on an every day shutting premise uncovering the half level at 0.7541. Then again, a move underneath the 23.6% Fib at 0.7379 opens the entryway for a test of the 14.6% retracement at 0.7323.
The prevailing AUD/USD pattern keeps on favorring the drawback. On account of that, we will regard any on-advancing additions as remedial and look to a rise as a chance to enter short. Meanwhile, we will stay on the sidelines.
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