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19.06.2015 11:35 AM
Technical analysis of AUD/USD for June 19, 2015
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Trading recommendations:

  • According to the previous events, the AUD/USD pair is expected to move between the levels of 0.7815 and 0.7667.
  • The resistance is found at the level of 0.7813 which represents a ratio of 38.2% Fibonacci retracement levels.
  • Consequently, the market will indicate a bearish opportunity below 0.7813, because the level of 0.7815 is going to act as strong resistance.
  • Therefore, it will be a good sign to sell below this level today with the first target at 0.7730 in order to test the daily pivot point in the H4 chart.
  • If the trend succeeds to close below 0.7730, the market will continue its downtrend below the weekly pivot point towards the level of 0.7660 on June 19, 2015.
  • On the other hand, the stop loss should be placed above 0.7820 at 0.7852.
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Summary
Urgency
Analytic
Mourad El Keddani
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