During the last 24-hours, AUD/USD managed to test the upper channel boundary on two occasions and thus reach a new peak in the process. The Aussie dropped in value against the Greenback in the first half of today’s session—a move which was followed by a massive selling of the pair due to solid US fundamentals.
The nearest support is provided by the 200-hour SMA and the weekly PP near the 0.7920 mark. In case of a reversal, the rate is likely to push until the weekly R1 at 0.7950.
However, better-than-expected US data may determine the pair’s direction for the remaining session and push the pair even lower down to the 0.7910/00 area.
The nearest support is provided by the 200-hour SMA and the weekly PP near the 0.7920 mark. In case of a reversal, the rate is likely to push until the weekly R1 at 0.7950.
However, better-than-expected US data may determine the pair’s direction for the remaining session and push the pair even lower down to the 0.7910/00 area.
Comment:
The currency pair has been reviewed. For more see the Dukascopy website.
Comment:
The Aussie has fallen against the US Dollar even lower than it was expected by the Dukascopy Analysts. During the middle of Thursday’s trading session the currency exchange rate reached the lower support of a medium scale ascending channel pattern.
There are tow possibilities. Either a passing of the support or a rebound. In accordance with the large scale situation, the pair is set to pass the support. The reason for that is the fact that a few sessions ago the Aussie bounced off a dominant resistance level against the US Dollar.
In that case the pair might fall to the next support, which is located at 0.7830 mark.
There are tow possibilities. Either a passing of the support or a rebound. In accordance with the large scale situation, the pair is set to pass the support. The reason for that is the fact that a few sessions ago the Aussie bounced off a dominant resistance level against the US Dollar.
In that case the pair might fall to the next support, which is located at 0.7830 mark.
