alanposner
Short

AUD/USD Looking for a Bounce

FX:AUDUSD   Australian Dollar / U.S. Dollar
183 0 0
The Aussie has acquired some notoriety over the years the as the world's leading commodity currency. Australia as a nation is digging up its minerals and shipping them to China and in return enjoying wealth and prosperity. Since Australia has become so dependent on China buying these hard assets for its GDP, should Chinese demand slow down Australia would suffer a significant economic loss.

In the short term the Aussie has been correcting its gain against the US Dollar             from the $1.06 area. The Aussie has been as high as $1.10 in recent history and has served as a point of resistance since first touching this rarified air in April 2011. In the daily chart below we can see how the TSI began consolidating while price moved higher from June 20th to August 10th and then ultimately rolled over with the price selloff. The Aussie is now seeking a short term bounce and the Fibonacci levels may help us identify where that bounce will come. No sign yet but having only reached 38.2% there are still multiple levels ahead of us.

http://www.sealionllc.com
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out