novvoll12
Long

AUDUSD Scope for 0.7153/.7205 resistance zone nr falling channel

FX:AUDUSD   Australian Dollar/U.S. Dollar
22 0 1
AUDUSD             0.71112 – Short-term Bulliish – Scope for 0.7153/0.7205 resistance zone near falling channel
AUDUSD             rebounded off the .6945 reversal low (September 10, 2015) to offer scope for the 0.7153/0.7205 (September 1/August 28, 2015 highs) resistance zone near the falling channel upper bounds (from June 18, 2015 lower high) (as shown on the daily chart ). The area may cap the bounce. A downside push below the .7030 area (August 24, 2015 spike low) would suggest return of weakness and shift the focus lower towards .6945 ahead of the .6907 YTD low (September 4, 2015).
Outlook:
Intraday: bullish
Daily: bullish
Weekly: neutral
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