AUDUSD Daily Analysis – March 17, 2014
AUDUSD remains in uptrend from 0.8660 (Jan 24 low), the price action from 0.9080 could be treated as consolidation of the uptrend.
AUDUSD remains in uptrend from 0.8660 (Jan 24 low), the price action from 0.9080 could be treated as consolidation of the uptrend.
The AUD/USD pair fell during the session on Monday, but remains above the 0.90 handle.
On a slow news day, with only Construction PMI on the horizon in the UK, Ukraine will continue to dominate.
After touching 0.8906 support, AUDUSD rebounded to 0.8971, indicating that the pair remains in consolidation of the uptrend from 0.8660.
AUDUSD stayed in a trading range between 0.8906 and 0.9080 for several days.
AUD/USD is testing a major support level, as seen on its daily time frame.
The AUD/USD pair fell during the session on Tuesday, showing significant resistance near the 0.90 handle.
The AUD/USD pair went back and forth during the session on Monday, ultimately settling nothing.
Long Term AUDUSD Analysis indicates EURUSD breaks above 1.3171 resistance, suggesting that the uptrend from 1.2042 has resumed. Further rise could be expected next week, and next target would be at 1.3400 area.
As traders get ready to move on the FOMC statement out shortly at 12:30