AUDUSD Daily Analysis – April 5, 2017
AUDUSD broke below 0.7587 support, indicating that the downtrend from 0.7749 has resumed.
AUDUSD broke below 0.7587 support, indicating that the downtrend from 0.7749 has resumed.
AUDUSD stays in the descending price channel on 4-hours chart and remains in downtrend from 0.7749.
AUDUSD remains in downtrend from 0.7749.
The AUD/USD pair fell initially during the course of the session on Wednesday, but turned around to form a nice-looking hammer.
AUDUSD stays above 0.7663 support and remains in uptrend from 0.7490.
The Australian dollar is going to be in focus next week. Retail sales will be released on Monday while the Reserve Bank of Australia will be making a decision on interest rates a day later on Tuesday.
AUDUSD recently broke below its ascending channel visible on the 1-hour and 4-hour time frames. Price has dipped to a low of .7635 before showing signs of a pullback. Applying the Fib tool on the swing high and low shows that the 50% retracement level lines up with the broken support.
The AUDUSD pair chopped around during the day on Monday, as we continue to see quite a bit of volatility.
No changed in our view, AUDUSD remains in uptrend from 0.7159.
AUDUSD is slowly trending higher, moving inside a rising wedge pattern visible on its 1-hour and 4-hour charts. Price is testing the resistance and could be due for a move back to support at the .7475 level.