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Australlian

AUD/USD daily reviewThe AUD/USD pair continues to break all drawn patterns, by the end of Thursday’s trading session, the pair breached the upwards aimed junior channel and dropped back to the dominant channel. The drop was stopped by the 200—hour simple moving average at 0.8006. The bulls had taken over the movement by the middle of Friday’s trading session. Meanwhile, in regards to the future trading sessions, if the pair breaches the dominant channel it is likely to find resistance at the weekly pivot point of 0.8114 level.
Long
by UnknownUnicorn890690
1
AUD/CHF breaks long term patternThe Australian Dollar recently marked another bounce off from the resistance of the 2017 high level against the Swiss Franc. As a result a medium scale channel pattern has formed. The descending channel managed to break through the support of the previously active large scale pattern. Most recently the Aussie made attempts to regain its losses. However, the pair failed to rebound, as the previously active patterns support acted as a resistance together with the weekly PP and the 55-period SMA just above the 0.7619 mark. Due to the combination of the minor factors it is expected that the pair will decline down to the 0.7558 level, where the weekly S1 and the 61.80% Fibonacci retracement level are located at.
Short
by UnknownUnicorn890690
AUD/NZD bounces off Fibonacci retracementLast week the Australian Dollar encountered a resistance against the New Zealand Dollar, which caused a decline of the pair. Using that direction changing Fibonacci retracement level for pattern drawing, one can spot the medium term ascending channel pattern. The pair is expected to decline down to the weekly PP, which is located at the 1.1070 mark. Afterwards it should continue to trade horizontally until it reaches the support of the channel up pattern. Later on, as the currency exchange rate finds support in the combination of the mentioned levels, a surge up to the resistance cluster near the 1.12 mark should begin.
by UnknownUnicorn890690