AUDUSD Forecast November 25, 2014, Technical Analysis
The AUDUSD pair fell hard during the session on Monday, continuing the downtrend that we have seen for some time.
The AUDUSD pair fell hard during the session on Monday, continuing the downtrend that we have seen for some time.
A short-term rally might take place for AUDUSD, as the pair formed a double bottom pattern on its 4-hour time frame.
AUDUSD stays in a trading range between 0.8540 and 0.8910.
AUDUSD is facing 0.8540 support, a breakdown below this level will indicate that the downtrend from 0.8910 has resumed,
AUDUSD’s fall from 0.8795 extended to as low as 0.8585.
AUDUSD broke below the upward trend line on 4-hour chart, indicating that the uptrend from 0.8540 had completed
AUDUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 0.8540, the fall from 0.8795 is likely consolidation of the uptrend.
AUDUSD continued its upward movement from 0.8540, and the rise extended to as high as 0.8784.
AUDUSD moved sideways in a trading range between 0.8540 and 0.8910.
AUDUSD remains in uptrend from 0.8540, the fall from 0.8764 would possibly be consolidation of the uptrend.