AUDUSD TECHNICAL ANALYSIS ON DAILY TIMEFRAME
Publish Date : 2019/11/14 - 05:07

AUDUSD TECHNICAL ANALYSIS ON DAILY TIMEFRAME


AUD/USD: The bearish channel and 200-day eMA capped as resistance ahead of its recent pullback, although today’s weak employment data saw prices break the corrective channel and now testing support just above 0.8600. Given its established downtrend and momentum has now realigned with it, the bias is for it to push to new lows.

  • Bearing in mind that prices are now resting on support having reached 95% of its ATR, then it plausible to expect a pause or mild rebound from current levels at the very least.
  • Daily trend remains bearish beneath the 0.6930 highs, although bears can fade into minor rallies beneath 0.6850 (momentum doesn’t favour a rebound that high though).
  • A clear break of 0.6800 brings 0.6750 and 0.6723 low into focus.

Source:forex.com

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