AUDUSD Weekly Analysis - October 9, 2016

Long Term Forex Analysis | by ForexCycle.com | Sunday, 09 October 2016 03:45 UTC
AUDUSD failed to break above 0.7755 resistance, and stayed in the trading range between 0.7441 and 0.7755. Sideways movement in the range could be seen in a couple of weeks. Support is at 0.7441, a breakdown below this level will indicate that the uptrend from 0.7144 had completed at 0.7755 already, then the following downward movement could bring price back to 0.6900 zone. On the upside, as long as 0.7441 support holds, the price action in the trading range could be treated as consolidation of the uptrend, and further rise to 0.8000 area is still possible.

audusd chart

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.