AUDUSD Forecast October 16, 2015, Technical Analysis
The AUDUSD pair fell significantly during the course of the day on Thursday, but found enough support to turn things back around and form a hammer.
The AUDUSD pair fell significantly during the course of the day on Thursday, but found enough support to turn things back around and form a hammer.
The AUDUSD pair initially tried to rally during the course of the day on Wednesday, but found far too much in the way of resistance above to continue the move.
The AUD/USD pair had a volatile yet negative session on Tuesday, as we continue to see a lot of volatility in this market.
The AUDUSD pair broke higher during the course of the session on Thursday, testing the top of the shooting star from the Wednesday session.
The AUDUSD pair initially fell during the course of the session on Tuesday, but turned back around to find a very positive candle at the outcome.
AUDUSD seems to have bottomed out from its recent long-term selloff, as the pair is starting to trade inside a rising channel on its 1-hour chart. Price recently broke above the double bottom neckline as well, setting its sights on the next potential resistance areas.
The AUDUSD pair broke higher during the course of the day on Wednesday, clearing the top of the hammer that had formed on Tuesday.
AUDUSD has been moving higher in the past few days but it could be a large correction from the longer-term downtrend.
AUDUSD stays below the downward trend line on daily chart, and remains in downtrend from 0.8162.
The AUDUSD pair fell during the course of the day on Wednesday, as the area above the 0.70 level continues offer resistance.