Australian dollar fell after building approval data came at -17%, while only -5% was expected.
GBPAUD had broke the resistance of the falling wedge pattern. RSI is above 50 and MACD histogram is above 0 line, plus the instrument is above both its 20 and its 50 MA, which is a bullish scenario.
If this scenario continues, we might see increase of the instrument's price to 1.715, the alternative scenario is the price to return to the falling wedge support at 1.687
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
GBPAUD had broke the resistance of the falling wedge pattern. RSI is above 50 and MACD histogram is above 0 line, plus the instrument is above both its 20 and its 50 MA, which is a bullish scenario.
If this scenario continues, we might see increase of the instrument's price to 1.715, the alternative scenario is the price to return to the falling wedge support at 1.687
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.