AUDUSD Forecast April 10, 2017, Technical Analysis
The Australian dollar fell hard during the session on Friday, crashing into the 0.75 handle.
The Australian dollar fell hard during the session on Friday, crashing into the 0.75 handle.
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.