AUDUSD Forecast July 7, 2016, Technical Analysis
The AUDUSD pair initially fell during the course of the day on Wednesday but turn right back around to break above the 0.75 level.
The AUDUSD pair initially fell during the course of the day on Wednesday but turn right back around to break above the 0.75 level.
The AUDUSD pair fell a bit during the course of the day on Tuesday as traders returned from the Independence Day holiday in America.
The AUDUSD pair broke above the 0.75 level during the day on Monday, but we are still below the pressure that had formed a shooting star from the previous week.
The AUDUSD pair initially fell during the course of the day on Thursday, but turned back around to form a hammer.
The Australian dollar initially bounced against the US dollar during the day on Tuesday, but gave back most the gains in order to form a bit of a shooting star.
The AUDUSD pair gapped lower at the open on Monday, and then broke down.
AUDUSD tested the .7650 minor psychological resistance before selling off sharply last week and a look at the daily time frame shows that this resistance is a long-term area of interest.
The AUDUSD pair rose during the course of the session on Wednesday, breaking out to a fresh, new high.
The AUDUSD pair tried to rally during the course of the day on Monday, but gave back about half of the gains in order to form a bit of an exhausted looking candle.
AUDUSD remains in downtrend from 0.7834, the price action from 0.7144 could be treated as consolidation of the downtrend.