AUDUSD Weekly Analysis – May 1, 2016
AUDUSD broke below the support of the upward price channel on daily chart.
AUDUSD broke below the support of the upward price channel on daily chart.
EURUSD remains in uptrend from 1.0517.
For longer term traders and investors in oil, as we come to the end of another month with the latest weekly oil inventories now posted, it is once again the weekly and monthly charts that provide insight and context for the future trends.
As we move to the end of another trading month a feature now building in US equity markets is the apparent disconnect between the three principal indices, and in particular the divergence between the NQ, which appears to be moving South, and the others which are moving North.
The GBPUSD pair initially rose during the course of the session on Wednesday, but turned right back around to form a bit of an exhaustive candle.
The AUDUSD pair fell during the course of the session on Wednesday, breaking below the 0.76 level at one point.
The EURUSD pair had a slightly positive session during the day on Wednesday, pre-FOMC Statement.
The AUDUSD pair tried to rally during the day on Tuesday, but failed to hang onto about half of the gains.
The USDCAD pair went back and forth during the course of the day on Monday, essentially forming a neutral candle.
The GBPUSD pair initially fell during the course of the session on Monday, but turned back around and reached above the 1.45 handle.