AUD/USD: general review on 16.10.2014

October 16, 2014

Current trend

The Australian dollar has stopped declining and is not undergoing correction. The level of 0.8660 is the last barrier preventing the pair from the further decline to the new lows. Throughout three weeks the pair has been trading in the channel of 0.8660-0.8840, testing both of its boundaries. Yesterday’s data on the US retail sales, which was below expectations, has triggered the rise in the pair to the level of 1.8855. However, the price has not maintained this level for long and in the evening session the pair traded at the level of 0.8730. Nevertheless, just before closing of the session, the pair sharply went up and reached yesterday’s highs. Many analysts believe that the level of 0.8660 will be soon broken down and the “bears” feel confident.

Let’s look at the technical indicators. At the moment the price is testing moving average lines with the periods 50 and 100. In case of breakdown of these levels the price will drop to the lower limit of the channel. Stochastic is in the overbought zone giving a sell signal.

Publication source
LiteForex information  LiteForex reviews

February 23, 2017
FOMC meeting minutes signal rate hike fairly soon – dollar unimpressed
The minutes from the most recent FOMC meeting three weeks ago – the first such meeting since Donald Trump’s presidential inauguration – were released on Wednesday afternoon...
February 23, 2017
Political instability hits the Euro
The Euro plummeted to a 6-week low in today’s trading session before slightly recovering as predictions of political instability swept through the European Union on the back of upcoming elections due out in the upcoming months...
February 23, 2017
Gold prices remained under pressure
The precious metal traded mostly sideways on Wednesday. Tuesday’s recovery helped gold to reverse all its early losses. Buyers returned the spot to the 1240 hurdle where the pair XAU/USD stood still the first part of the day...

FxPro Rating
Tickmill Rating
Grand Capital Rating
XM Rating
EXNESS Rating
Cms Trader Rating

Anyoption Rating
TopOption Rating
Porter Finance Rating
Beeoptions Rating
24option Rating
IQ Option Rating