AUDUSD Forecast May 13, 2014, Technical Analysis
The AUDUSD pair did very little during the session on Monday, as it tried to rally but failed in the end.
The AUDUSD pair did very little during the session on Monday, as it tried to rally but failed in the end.
AUDUSD remains in uptrend from 0.9202, the fall from 0.9394 is likely consolidation of the uptrend.
The AUDUSD pair fell during the session on Wednesday, but ultimately found a little bit of support around the 0.93 level.
The AUDUSD pair took off to the upside during the session on Tuesday, breaking the top of the hammers and more importantly, breaking above the sideways grind that we have been stuck in for 2 weeks.
AUDUSD remains in downtrend from 0.9461, the rise from 0.9202 is likely consolidation of the downtrend.
AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9461, the rise from 0.9227 would possibly be consolidation of the downtrend.
AUDUSD is facing 0.9316 resistance, a break above this level will indicate that the downtrend from 0.9461 had completed at 0.9227 already,
AUDUSD remains in downtrend from 0.9461.
AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9461, and the fall extended to as low as 0.9227.
AUDUSD is in a strong uptrend on its short-term and long-term time frames but it appears that buyers need to regain energy before pushing the pair higher.