AUDUSD Forecast October 21, 2014, Technical Analysis
The AUDUSD pair did almost nothing during the session on Monday, testing the 0.88 level above for resistance.
The AUDUSD pair did almost nothing during the session on Monday, testing the 0.88 level above for resistance.
AUDUSD stays in the trading range between 0.8642 and 0.8898.
There was no hiding place for the Australian dollar last week, which came under relentless and remorseless pressure, with the December futures contract closing with yet another wide spread down candle on Friday, and further confirming the bearish picture for the Aussie dollar.
The AUDUSD pair fell during the day on Tuesday, breaking the back of the hammer that informed on Monday.
The AUDUSD as you can see fell during the session on Tuesday, only to turn back around and form a hammer.
With the FOMC meeting now consigned to history, and the currency markets now returning to ‘business as usual’ here is a round up for the Aussie, the British pound, the Canadian dollar and of course the euro
The AUDUSD pair broke higher during the day on Tuesday, clearing the top of the Monday hammer.
The rising channel on AUDUSD’s 1-hour forex chart is still holding and it appears the pair found resistance at the .9500 major psychological level, which lines up with the top of the channel.
AUDUSD continued its sideways movement in a range between 0.9318 and 0.9408.
The AUDUSD pair went back and forth during the session on Thursday, ultimately printing a fairly neutral candle.