FX:AUDUSD   Australian Dollar / U.S. Dollar
The AUD/USD             Monthly chart is something I have been watching for a little while.
I have been very bearish with many of the Aussie pairs on both a fundamental and technical level for some time, so it is no surprise that the AUD/USD             has taken a skydive since July 2014.

Although I don't trade the monthly chart I am cognizant of the approach and then the break and close below the bullish trend line .
As price has now broke and closed below .7532 I am looking at the first support level between .6982 and .6772.
If price can respect this support level I will then be looking to narrow down an entry point on the lower time frames.

I will be looking to update this post in the coming weeks as price enters this first key support area .

Have a good week in the markets.


Comment: Although this chart was posted in 2015 i am still holding the same analysis.
Now we have a break and retest of the historical trendline support and i expect a long term retest of support 2 at .06323
Website: http://www.UKForexSignals.com
Become an Affiliate: https://ukforexsignals.idevaffiliate.com
Instagram: http://www.Instagram.com/UK_Forex_Signals
Twitter: http://www.Twitter.com/Tom_H_Official
Facebook: http://www.Facebook.com/UKForexSignals
Nice analysis. And nice correction...
+1 Reply
@cmc, Thanks very much, appreciate the message.
Great long term perspective, good to know. Thanks Tom.
+1 Reply
TomHall TOP duyphuocluong
@duyphuocluong, Thanks very much mate.
I love the bigger picture perspective you have there. I think that Generally, this is a trendline that should have held price up. Now, regarding the monthly trendline is broken down, two things come to my mind, It's either that the selling pressure far outweighs the buying pressure , and we see a dramatic and continuous selloff, driven by some bad news, or we see a rally that goes to test the Trendline for resistance. Now, I am currently short, and holding to see PRICE ACTION around the obvious last low on the daily = 0.690000 I'll exit my short, and reconsider another trade. Great job, Tom!
moorekapital moorekapital
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 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