6A AUD/USD overview

[volfixtrader]

Hi everybody

The following offer my review AUD. It appears reversal pattern on the dayly chart.
I was late to the recommendation to sales. But there is still a possibility of return to the levels of sales.

Sell from levels 0,7298 - 0,7318.
First goal - 0,7232
Second - 0,7178
Second goal - 0,70206


Good luck!

 

[volfixtrader]

So,

levels confirmed for sale and it was several opportunities to sell from the upper edge 0,7318. The position is now in profite waiting for first goal 0,7232.

 

[lender85]

AUD/USD

Currently the pair is trading at 0.7280. Traders must monitor the 0.7381 resistance level and the support level of 0.7197 for possible breakouts. A possible scenario would be a movement towards the 0.7310 resistance level, where a break may lead to the 0.7345 area. An alternative scenario could be a movement towards the 0.7240 support level, where a break may lead to the 0.7210 area.

 

[tomorton]

Thanks lender85 for both sides of the argument. Chart shows a symmetrical triangle or pennant in an upswing from 29/09 which is itself part of an upswing from 04/09. Price could very easily rise with energy from here.

 

[volfixtrader]

We have achived second goal. Now wait for further development. We have local support level at 0.7178. From which the price can go up.

In this chart we could compare the accumulation volume and price action this week in comparison with the previous two.

We see that over 2.5 weeks the entire amount accumulated at the top of the chart, and we can assume that the major players already have positions and reduce the price.

If we do not see major purchases at this level the price will continue to fall.

 

[soro]

Just noticed a big drop on this pair last week, which news/event made it?

 

[tomorton]

Appears to have been Chinese GDP figure 6.9%, released 0200hrs, Monday. Though a little above forecast, this was slowest Chinese economy growth since third quarter 2009.