AUDUSD Forecast October 23, 2015, Technical Analysis
The AUDUSD pair initially fell during the course of the session on Thursday, but found enough support near the 0.72 level to turn things back around.
The AUDUSD pair initially fell during the course of the session on Thursday, but found enough support near the 0.72 level to turn things back around.
AUDUSD broke below the upward trend line on 4-hour chart, indicating that the uptrend from 0.8540 had completed
With many of the major trading centres closed yesterday for public holidays, and with little in the way of meaningful fundamental news to drive price action, trading volumes in currency futures remained thin, with the Aussie dollar, the British Pound, the Canadian dollar and the Euro, all consolidating further following the volatile price action of last week.
The GBPUSD pair broke higher during the session on Tuesday, but could not clear the 1.72 level that we have been looking for in order to start buying again.
The AUDUSD pair tried to rally during the session on Friday, but as you can see gave back almost all of the gains in order to form a shooting star.
The EURUSD pair fell during the session on Wednesday, breaking below the 1.36 level towards the end of the day.