20Apr
AUD-USD

Forex Technical Analysis : AUD/USD

AUD/USD Technical Strategy: Flat

Australian Dollar rejected lower at two-month channel protection

Break of counter-slant line expected to affirm bearish resumption

Strategic long exchange ugly missing an obvious bullish flag

The Australian Dollar drew back from channel protection controlling it bring down since mid-February, with affirmation of down pattern resumption everything except secure. In any case, the close term arrangement of higher highs and lows stays in place, contending against accepting take after on soft spot for the present.

An every day close underneath incline line bolster – now at 0.7709 – opens the way to challenge the urgent 0.7625-53 group (38.2% Fibonacci extension, March 29 low, two-year drift line). On the other hand, push over the 0.7813-31 zone (April 19 high, 38.2% Fib retracement) uncovered the half boundary at 0.7889.

Costs are sitting decisively at prompt graph bolster, influencing a short position to seem ugly from a hazard/remunerate point of view. Then again, the easiest course of action keeps on pointing descending and missing indications of bottoming caution against taking up the long side, even strategically. Remaining level appears to be generally judicious.

AUD/USD

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