AUD/USD Weekly Technical Report 3-7/11/2014
ecPulse
2014-11-03 08:44AM UTC
The pair moved sharply to the upside last Friday confirming trading again above 23.6% correction at 1.1250 showing above, which indicates failing to confirm extending the bearish correction. The minor ascending channel showing above forces us to think that the possibility of extending bullishness is valid this week, but the pair should breach 1.1300 - 1.1315 to confirm this outlook.
From the downside, trading above 1.1160 is positive and the upisde move remains valid is the pair breaks this level.
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