GBPUSD Daily Analysis – April 11, 2017
GBPUSD broke out below the lower line of the triangle pattern on 4-hour chart,
GBPUSD broke out below the lower line of the triangle pattern on 4-hour chart,
AUDUSD remains in downtrend from 0.7679.
The EURUSD pair initially tried to rally during the day on Friday, but then broke down below the 1.06 handle during the day.
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.
EURUSD has been selling off recently but it could be approaching a turning point as it nears the bottom of the longer-term ascending channel visible on the 4-hour time frame.
EURUSD’s upward movement from 1.0494 extended to as high as 1.0905.
AUDUSD stays in the descending price channel on 4-hours chart and remains in downtrend from 0.7749.
The EURUSD pair initially fell during the day on Friday, but found enough support at the 1.0750 level to turn these around to form a hammer.
AUDUSD remains in downtrend from 0.7749.