AUDUSD Forecast June 28, 2016, Technical Analysis
The AUDUSD pair gapped lower at the open on Monday, and then broke down.
The AUDUSD pair gapped lower at the open on Monday, and then broke down.
The GBPUSD pair initially fell during the course of the day and then turn right back around to break out to the upside. However, there is still more than enough resistance at the 1.48 level to keep this market somewhat soft, and this was initially a “knee-jerk reaction” to the latest polling data out of the UK when it comes to the EU referendum.
The EURUSD pair initially tried to rally during the day on Monday as we gapped at the open, but at the end of the day we did up turning right back around and filling that gap.
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.
GBPUSD’s downward movement from 1.4769 extended to as low as 1.4012.
AUDUSD remains in downtrend from 0.7834, the price action from 0.7144 could be treated as consolidation of the downtrend.
EURUSD is testing the support of the price channel on daily chart.
EURUSD stays in the upward price channel on daily chart, and remains in uptrend from 1.0517.
No changed in our view, AUDUSD remains in downtrend from 0.7834, the rise from 0.7144 could be treated as correction of the downtrend.
The GBPUSD pair fell during the day on Thursday, as we broke down below the 1.45 handle.