AUDUSD Weekly Analysis – May 22, 2016
AUDUSD continued its downward movement from 0.7834, and the fall extended to as low as 0.7175.
AUDUSD continued its downward movement from 0.7834, and the fall extended to as low as 0.7175.
The AUDUSD pair initially fell during the course of the session on Wednesday but turned around to form a hammer.
The AUDUSD pair tried to rally during the day on Monday, and did manage to get above the 0.73 level, but could not hang onto the gains in the end.
AUDUSD’s downward movement from 0.7834 extended to as low as 0.7253.
The AUDUSD pair initially tried to rally during the day on Wednesday but found the area above the 0.75 level to be a little bit too rich.
The AUDUSD pair fell significantly during the course of the session on Tuesday, crashing into the 0.75 support level.
The AUDUSD pair rose during the course of the session on Monday, as we continue to find buyers every time this market pulls down.
AUDUSD broke below the support of the upward price channel on daily chart.
The AUDUSD pair fell during the course of the session on Wednesday, breaking below the 0.76 level at one point.
The AUDUSD pair tried to rally during the day on Tuesday, but failed to hang onto about half of the gains.