AUD/USD The closest resistance level is the lower border of the cloud (0.7759)

February 24, 2015

AUD/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above above the cloud, forming a signal to sell. Chinkou Span line has crossed the price chart from above, current cloud is still ascending. The pair has broken down the cloud and is moving towards 0.7680. The closest resistance level is the lower border of the cloud (0.7759).

AUD/USD, D1

On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Chinkou Span line is below the price chart, current cloud is descending. The pair has been corrected to the Tenkan-sen line after a long fall. The closest support level is Kijun-sen line (0.7959). One of the previous minimums of Chinkou Span line is expected to be a support level at 0.7595.

Key levels

Support levels: 0.7680, 0.7605.

Resistance levels: 0.7759, 0.7930.

Trading tips

On the four-hour chart the pair has broken down the cloud, forming strong signal to sell. On the daily chart we can see a correction of the downward movement. Targets for the sell positions are 0.7680 and 0.7605.

Publication source
LiteForex information  LiteForex reviews

December 2, 2016
It's not the jobs numbers
It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President...
December 2, 2016
OPEC alliance stuck a global agreement
The Oil prices jumped on Wednesday after the organisation members agreed to pare production first time since 2008, to reduce global oversupply, which made the prices collapse by half since mid-2014...
December 2, 2016
Rebound continues in UK construction
The latest data on the UK construction sector was released this morning, and will likely be seen as positive overall as the recovery from the Brexit shock appears to be persisting. Despite this the FTSE 100 is under pressure this morning...

Z.com Trade Rating
Fort Financial Services Rating
OctaFX Rating
FXCM Rating
XM Rating
FxPro Rating

OptionsXO Rating
TropicalTrade Rating
EZTrader Rating
Empire Option Rating
OptionBit Rating
OptionFair Rating