empty
 
 
18.06.2015 01:06 AM
AUD/USD at the top of the range

AUD/USD continues to move sideways within 130 pips corridor. The pair found strong support near 0.7630 and resistance is seen near 0.7770.

On June 17, AUD/USD tested the resistance once again failing to break it. While the resistance holds the uptrend, trendline was broken. The 23.6% level of the Fibonacci applied to the trendline breaking point showing that S4 support (0.7667) was also broken. Besides, the Demarker oscillator is moving under the downtrend trendline.

All the facts suggest that downward move should be the next, therefore consider selling AUD/USD near R1, which is 76.4% Fibonacci resistance level at 0.7753. A target is at the key support, which is also a 0% Fibonacci level S5 (0.7630). A break above R2 (0.7792) will invalidate this forecast and is expected to push the rate up.

Support: 0.7730, 0.7710, 0.7691, 0.76679, 0.7629

Resistance: 0.7753, 0.7792

This image is no longer relevant

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback