AUDUSD bearish – Minor double top suggests scope for lower
AUDUSD 0.7127 – bearish – Minor double top suggests scope for lower
AUDSD reached .7274/.7279 (17/18 September highs) where the tough resistance cluster managed to cap the pair. Subsequent decline below .7137 (September 17, 2015 low) completed a minor double top at the form highs, signaling the breakout above the 3-month falling channel is fake and the broad downtrend is resuming. Further bearish momentum opens .7084/.7034 (September 14/11, 2015 lows) ahead of the .6945 higher low (September 10, 2015). .7197 (September 21, 2015 high) should cap bounces.
Outlook:
Intraday: bearish bullish
Daily: bearish
Weekly: bearish
AUDSD reached .7274/.7279 (17/18 September highs) where the tough resistance cluster managed to cap the pair. Subsequent decline below .7137 (September 17, 2015 low) completed a minor double top at the form highs, signaling the breakout above the 3-month falling channel is fake and the broad downtrend is resuming. Further bearish momentum opens .7084/.7034 (September 14/11, 2015 lows) ahead of the .6945 higher low (September 10, 2015). .7197 (September 21, 2015 high) should cap bounces.
Outlook:
Intraday: bearish bullish
Daily: bearish
Weekly: bearish
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.