AUD/USD technical analysis

csc2009

Established member
633 17
Chinese data missed expectations, on the downside Aud/Usd support located at 0.7100 zone, break below would open the door to further loss towards 0.7000 level.
 

dianajs

Established member
533 8
I agree. It will probably reach 0.7140, maybe even higher.
 

fxstrategist

Established member
579 15
Audusd

The AUDUSD breaks above the 0.7100 level, but it looks like the bullish momentum is losing strength. Possible inverted head and shoulders pattern on the daily chart.
 

predator

Member
90 1
As the price has reached the level of resistance, I think that now it will go down and will pass the 0.730637 mark.

aud.png
 

tomorton

Legendary member
7,161 932
As the price has reached the level of resistance, I think that now it will go down and will pass the 0.730637 mark.

View attachment 220226

You're probably right that price will pull back from here but beware of labels like resistance. A label can make a thing seem more significant purely because it has a label attached. Resistance is where price stops rising because of previous market action, not where price simply stops for the weekend.
 
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predator

Member
90 1
Right now, I can’t see the entrance for opening a deal on the asset, so I’ll wait until the price reaches one of the levels, and then I’ll make a decision.

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