AUDUSD Forecast July 8, 2014, Technical Analysis
The AUDUSD pair initially fell during the session on Monday, but found enough support below in order to turn things back around and form a hammer.
The AUDUSD pair initially fell during the session on Monday, but found enough support below in order to turn things back around and form a hammer.
The EURUSD pair initially fell during the session on Monday, but found enough support below the 1.36 level in order to continue going higher.
The USDJPY pair fell during the session on Monday, but as you can see really remains mired in a significant amount of consolidation.
The AUDUSD pair rose slightly during the session on Friday, testing the 0.9350 level for support.
EURUSD’s downward movement from 1.3700 extended to as low as 1.3580.
We wanted to provide a quick market update to our readers and subscribers this morning prior to the opening bell.
The GBPUSD pair continued its bullish move on Tuesday, breaking above the 1.7150 level. The action from the Tuesday session suggests that the market is in fact going to continue going higher, as we try to get to the 1.75 level.
The EURUSD pair fell during the session on Tuesday, as the 1.37 level did in fact offer resistance.
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.
EURUSD is facing 1.3651 resistance, a break above this level will signal resumption of the short term uptrend from 1.3512, then further rise to test 1.3676 key resistance could be seen.