AUDUSD Forecast August 14, 2017, Technical Analysis
The Australian dollar has been very volatile during the Friday session, initially dipping to a fresh, new low, and then exploding to the upside.
The Australian dollar has been very volatile during the Friday session, initially dipping to a fresh, new low, and then exploding to the upside.
Gold has been undermined by rising government bond yields owing to major central banks generally turning more hawkish while the still-buoyant equity markets means there has been reduced demand for the perceived safe haven asset.
AUDUSD had been trading inside an ascending triangle on its long-term time frame and has just broken past the resistance at the .7750 minor psychological mark.
Gold has been undermined by rising government bond yields owing to major central banks generally turning more hawkish while the still-buoyant equity markets means there has been reduced demand for the perceived safe haven asset.
The Australian dollar initially slid a bit at the open on Friday, but then bounced significantly towards the 0.76 handle.
The AUDUSD pair initially tried to rally on Wednesday, but found enough resistance near the 0.7625 handle to turn around and drop towards the 0.7580 level.
The AUDUSD pair rallied a bit during the day, but then pulled back on Monday, testing the 0.7560 level.
The Australian dollar shut higher initially during the day on Friday, but then pulled back to test the opening again, only to rally and reach towards the 0.7625 handle.
The Australian dollar gapped lower at the open on Monday, but then fill that gap as one would expect.
The AUDUSD pair had a very strong session on Friday, reaching towards the highs that we had touched on Thursday. That’s a very bullish sign, and I think that the market is now trying to reach towards the 0.75 level above.