AUDUSD Forecast June 29, 2016, Technical Analysis
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 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.
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.
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 AUDUSD pair fell during the course of the session on Thursday, testing the 0.74 level.
The AUDUSD pair broke higher during the day on Tuesday, as we have cleared the 0.74 level.
AUDUSD remains in downtrend from 0.7834, the rise from 0.7144 is likely correction of the downtrend.
The AUDUSD pair initially went much higher during the course of the day on Wednesday, reaching all the way to the 0.73 handle.