AUDUSD faces solid resistance – Analysis - 08-01-2019

2019-01-08 05:01:13 GMT (Economies.com)
AUDUSD faces solid resistance – Analysis - 08-01-2019
 

The AUDUSD pair could not manage to surpass the previously broken neckline of the head and shoulders’ pattern that appears on the chart, to start bouncing bearishly now, accompanied by witnessing clear overbought signals through stochastic, which makes us suggest witnessing more decline in the upcoming sessions.

 

The first negative target is represented by testing 0.7020 level, noting that breaching 0.7145 will stop the suggested decline and lead the price to achieve more gains.

 

Expected trading range for today is between 0.7040 support and 0.7200

 

Expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1357
-0.0014
0.1236%
1.2684
-0.0056
0.4384%
15.292
-0.050
0.323%
58.846
1.244
2.160%
65.05
0.19
0.29%
1413.165
14.155
1.012%
 
 
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