AUDUSD Weekly Analysis – August 30, 2015
AUDUSD’s downward movement from 0.8162 extended to as low as 0.7037.
AUDUSD’s downward movement from 0.8162 extended to as low as 0.7037.
The AUDUSD pair initially tried to rally during the course of the day on Tuesday, but found itself struggling yet again.
The AUDUSD pair initially tried to rally during the course of the day on Tuesday, but found itself struggling yet again.
The AUDUSD pair initially broke higher during the course of the session on Wednesday, but found enough resistance near the 0.74 level to turn things back around.
The AUDUSD pair broke down a little bit during the session on Tuesday, but quite frankly we have a lot of noise below us.
The AUDUSD pair broke higher during the course of the session on Wednesday, bouncing off of extreme lows near the 0.7250 level.
The AUDUSD pair initially tried to rally during the course of the session on Tuesday, but fell back down to break below the 0.73 handle.
The AUDUSD pair fell during the course of the session on Monday, but found enough support near the 0.7350 level to turn things back around and bounce.
AUDUSD could be in for a long-term reversal from the recent downtrend, as an inverse head and shoulders pattern can be seen on its 4-hour time frame. Price is on its way to test the neckline around the .7400 major psychological mark and the 200 SMA.
The AUDUSD pair went back and forth during the course of the day on Wednesday, essentially settling nothing.