The AUDUSD breaches the channel’s resistance – Analysis - 05-10-2021
Economies.com
2021-10-05 04:13AM UTC
The AUDUSD pair kept rising to breach the bearish channel’s resistance, but we notice that the price stopped at 38.2% Fibonacci correction level for the decline measured from 0.7478 to 0.7172, which hints heading to return to decline again, and it needs to break 0.7245 to confirm continuing the decline towards 0.7170 initially.
Therefore, the bearish bias will be suggested for today, noting that breaching 0.7290 will stop the expected negative scenario and lead the price to achieve more gains.
The expected trading range for today is between 0.7210 support and 0.7310 resistance
The expected trend for today: Bearish
Forex and Currency News
Forex
Sterling loses ground under pressure from BOE
2024-04-23 07:35AM UTC
Sterling fell in European trade on Tuesday against a basket of major rivals, extending losses for ...
Forex
Dollar moves in a positive zone as US treasury yields gian ground
2024-04-22 11:41AM UTC
Dollar rose in European trade on Monday against a basket of major rivals, resuming movements in the ...
Forex
Euro gains ground and heads for $1.07
2024-04-22 07:45AM UTC
Euro rose in European trade on Monday against a basket of major rivals, extending gains for the ...
Forex Technical Analysis
Forex
The GBPCHF under the negative effect – Forecast today – 23-4-2024
2024-04-23 05:12AM UTC
GBPCHF Pair Price Analysis Expected Scenario The GBPCHF pair still affected by the ...
Forex
The EURJPY prepares for new rise – Forecast today – 23-4-2024
2024-04-23 05:01AM UTC
EURJPY Pair Price Analysis Expected Scenario No change to the EURJPY pair’s bullish ...
Forex
The GBPJPY fluctuates within the bullish track – Forecast today – 23-4-2024
2024-04-23 05:00AM UTC
GBPJPY Pair Price Analysis Expected Scenario The GBPJPY pair provided more mixed trades ...