AUDUSD approaches the support – Analysis - 10-08-2018

Economies.com
2018-08-10 03:40AM UTC

The AUDUSD pair traded with clear negativity yesterday to return to the bearish channel that appears on the chart, approaching the sideways range’s support line at 0.7310, to keep the price confined within this range that its resistance line represented by 0.7450 level.

 

Therefore, the price needs to breach one of the above mentioned levels to detect its next destination on the short term basis, noting that breaking 0.7310 support will push the price to continue the main bearish trend that its next target located at 0.7200, while breaching 0.7450 will lead the price to start attempts to turn the trend, to start the positive targets at 0.7537 followed by 0.7600.

 

Expected trading range for today is between 0.7280 support and 0.7450

 

Expected trend for today: Sideways

Forex and Currency News

Forex News

Forex

Dollar hovers near six-week high ahead of consumer spending data, Powell's remarks
2024-03-29 11:28AM UTC
Dollar Strengthens Amid Declining Rate Cut Odds The dollar rose in European trade on Friday ...
EUR/USD news

Forex

Euro declines to five-week trough amid thin trading
2024-03-29 08:19AM UTC
Euro Decline Amid Holiday Thin Trading Euro declined in European trade on Friday against a basket ...
Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...

Forex Technical Analysis

Technical Analysis

Forex

The NZDCAD moves to the bearish track – Forecast today – 29-3-2024
2024-03-29 06:18AM UTC
NZDCAD Pair Forecast for Today - 29-3-2024 The NZDCAD pair surrendered to the negative ...
EUR JPY Analysis

Forex

The EURJPY declines below the support – Forecast today – 29-3-2024
2024-03-29 06:13AM UTC
EURJPY Pair Forecast for Today - 29-3-2024 The EURJPY pair surrendered to the negative ...
GBP JPY Analysis

Forex

The GBPJPY has to decline – Forecast today – 29-3-2024
2024-03-29 06:12AM UTC
GBPJPY Pair Forecast for Today - 29-3-2024 The GBPJPY pair still confined with many negative ...