AUD/USD-Daily analysis
Hello everyone!
-On this daily chart we can see that price continued moving in bearish direction,we had head and shoulders pattern last 2 months so the price continued in bearish direction.
-Now the price is at lowest point since 2009,we can see 6 touches(yellow circles) at support line and price closed in Friday little bit above resistance line,on lower time frames we can see few rejections so the support is not jet broken.
-On daily base USD is stronger than AUD and on weekly base USD is at 50 level while AUD is at 29 level which means that AUD is week...I recommend to wait Monday and fundamental news about this pair to get conformation what to do in future,I believe that soon price will go in bullish direction because price is at its demand so we are waiting for bulls to gain more power and push price up.
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give my support,i will appreciate all support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
-On this daily chart we can see that price continued moving in bearish direction,we had head and shoulders pattern last 2 months so the price continued in bearish direction.
-Now the price is at lowest point since 2009,we can see 6 touches(yellow circles) at support line and price closed in Friday little bit above resistance line,on lower time frames we can see few rejections so the support is not jet broken.
-On daily base USD is stronger than AUD and on weekly base USD is at 50 level while AUD is at 29 level which means that AUD is week...I recommend to wait Monday and fundamental news about this pair to get conformation what to do in future,I believe that soon price will go in bullish direction because price is at its demand so we are waiting for bulls to gain more power and push price up.
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give my support,i will appreciate all support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
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