the AUDUSD was very stable today. but the most important is the comodity prices still very low in the market which can have a very big impcat on Australian dollar , so i think this pair will continue to rally to down.
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the AUDUSD was very stable today. but the most important is the comodity prices still very low in the market which can have a very big impcat on Australian dollar , so i think this pair will continue to rally to down.
Australian dollar against the US dollar shows some upside bias slightly to near a retest of 0.7415 test, where the price is affected positively Stochastic, while still bearish scenario exists with the support of the 50 EMA, which depends mainly on the stability below 0.7560 and 0.7610 levels .
After a sharp fall yesterday during the cross corrected this movement to over 50% today. News on Friday will focus exclusively on US indicators which should result in stagnation of course during the night and probably until the opening of US markets.
aussie is trading nicely lower for the last fout weeks,clearly in impusive manner. we are tracking a big extended re wave3 that can be targeting .7200 area in days ahead.
Te dollar is really strong at this moment and this push this pair to go very dovn , and the direction will continue to downside in the next few days . in the next week i expect to this pair to go directly to 0.71
Bounced trading the Australian dollar against the US dollar down after the re-test the 0.7415 level last Friday, to resume trading negative price approaching 0.7300 barrier, which supports the continuation of the overall downward trend, which is organized within the descending channel shown in the image, supported by 50 moving average.
AUDUSD: growth after the publication of statistics on lending in China
AUDUSD
July 20, 2015, 09:30
Buy on a level breakthrough of 0.7396 with 0.7488 target. Stop loss = 0.7346.
Reason for the trading strategy
In June, the volume of new yuan loans to individuals and businesses rose from 901 billion yuan to 1.279 billion yuan. The monetary stimulus measures, taken by the Chinese regulator, promote the growth of lending in the country. These statistics are positive for commodity currencies.
AUDUSD, H4
https://www.exness.com/media/media/2015/07/20/2.png
Our main following resides at 0.7100, with the reminder that the continuation of the bearish trend depends on the stability below 0.7560.
Expected trading range for today between 0.7200 support and 0.7415 resistance scale
General tendency is expected for today: Down
pair- aud/usd
time frame- m15
technical analysis-
http://i61.tinypic.com/m7w1t0.jpg
the down movement of the price is making correction and hold at the fibo resistance level 61.8. this may be not able to break the resistance at 0.7395 level. the price again down side with parabolic sar signal. short with take profit at 0.7325 level and stop loss at the 0.7400
good luck.
With the approach of many economic indicators for Australia, its currency has again lost ground on Friday, mainly during the upward movement in the USD later in the day. From the perspective of economic publications, calm Monday decide the following days will assess the economic health of Australia.