AUDUSD has tested the support of the ascending channel and has maintained its stability above it to start trading positively now in an attempt to stay away from the aforementioned support, keeping the upside scenario valid for today, supported by SMA 50 which carries the price from the bottom.
---------- Post added 06-20-2017 at 02:49 PM ---------- Previous post was 06-19-2017 at 10:40 PM ----------
The AUDUSD broke back to support the bullish channel that appears in the image and settled below it, putting the price under negative pressure that is expected to lead the pair to test the 0.7519 level before any new attempt to rally.
---------- Post added 06-21-2017 at 04:58 AM ---------- Previous post was 06-20-2017 at 02:49 PM ----------
The AUDUSD rallied significantly this morning to break through the 0.7604 level and is trying to hold above the support of the ascending channel, which signals the price attempt to return to the upside move again, supported by SMA 50 and Stochastic, but we need a daily close Above 0.7620 to confirm the continued bullishness.
---------- Post added 06-22-2017 at 01:46 AM ---------- Previous post was 06-21-2017 at 04:58 AM ----------
AUDUSD traded lower after retesting previously breached support for the ascending channel shown in the image, to settle below 0.7604 again, triggering the bearish scenario that we expect to push the price to test the 0.7519 level before any new attempt to rally.
---------- Post added at 08:28 PM ---------- Previous post was at 01:46 AM ----------
AUD / USD is trading below the SMA 50, so that the negative pressure remains intact over the intraday basis, reinforcing expectations for a move towards 0.7519 in the coming sessions.
Therefore, the bearishness will remain bearish for today, while a break of 0.7604 will stop the current negative pressure and lead the price to regain its main upside move again, while a break of 0.7519 will negate the price to move towards 0.7451 before any new attempt to rise.
---------- Post added 06-23-2017 at 07:47 PM ---------- Previous post was 06-22-2017 at 08:28 PM ----------
The AUDUSD is trading in a negative negativity, ****ually approaching our target at 0.7519, indicating that we are likely to bounce back from the mentioned level to resume the bullish trend, but it is important to note that breaking it will press the price to test 0.7451 before any new attempt For height.