the pair and as we can see from the chart has closed it's week candle under the level of 1.0500 , so , that's mean the down trend is still standing and the pair is heading to 1.0420then 1.0400
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the pair and as we can see from the chart has closed it's week candle under the level of 1.0500 , so , that's mean the down trend is still standing and the pair is heading to 1.0420then 1.0400
AUD/USD opened the European session near 1.0735 with small European offers coming straight into the market. However, the reduction in official interest rates by the Swiss National Bank was enough to start a recovering bounce for the majors with Euro,
Overall the AUD/USD traded with a low of 1.0677 and a high of 1.0787 before closing the day at 1.0740 in the New York session. Looking ahead, Quarterly RBA Monetary Statement.
The AUD/USD pair continued its bearish movement breaking a lot of levels ending by trading below 1.0525 level and facing 1.0410 support level, generally the pair remain the bearish direction as its main direction with a good chance that the pair may rise back to retest the nearest resistances such 1.0525 and 1.0650
The price level at 1.1000 proved to be a great resistance, though in the context of an uptrend. I sold short and made a profit. There’s been a serious violation to the bullish trend, but only an extended bearish movement would render the primary trend invalid.
After testing support at 1.0375 in early Asia, AUD/USD bounced higher, recovering early session losses. Many analysts hold a bearish outlook on the pair, and Gareth Berry of UBS anticipates that the Aussie will extend its losses well into the 1.0000 zone.
AUD is suffering from this crisis because Europe and USA is in trouble, gold cant help here anymore. It will test 1.0300
The break back below 1.0390 is significant and a close below this level will likely trigger a more significant topping formation that will project deeper setbacks below parity and towards 0.9800 over the coming days. In the interim, look for intraday rallies to be well capped in the 1.0700 area.
For the first time since March, the Australian dollar fell back below parity versus the greenback on Tuesday after coming under heavy selling pressure following a high reading on Chinese CPI.
The broader picture remains bearish with Support-turned-Resistance at 1.0300. A rally to 1.0300 will bring the sellers in to the market. As such we will be looking to sell on rallies to 1.0300 in the coming sessions."