AUDUSD - Bouncing Off Key Support Levels

FX:AUDUSD   Australian Dollar / U.S. Dollar
211 0 5
The Aussie tumbled lower on Friday (17th of July) closing the day @ 0.73685 after bouncing off a key monthly resistance level found @ 0.74226.
While there are no clear candlestick patterns found on the 4 hour or daily chart to signal a long term buy/sell entry, there's still potential for the Aussie to retest the monthly resistance level .

Why? Each time the support level has been reached, prices pulled back at least 50% of the range area.

Range Area: (Highlighted by the blue box)

High = 0.74850
Low = 0.73700
50% Target = 0.74275


The overall trend is still bearish (Long Term), however since there's no evidence of a bull/bear candlestick pattern found on the daily or 4 hour chart,
expect prices to continue ranging in the interim until a clear pattern presents itself.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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
AR العربية
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