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drilonn001

Week of 19/03-23/03 AUDUSD Support now turned to Resistance

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Dólar Australiano/Dólar Americano (FX:AUDUSD)  
drilonn001  
FX:AUDUSD   Dólar Australiano/Dólar Americano
Trend Analysis Chart Patterns
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trendanalysis chartpattern
Last week AUDUSD bears were very strong dragging the price down for more than 160 pips in just two days. After this strong move we may expect some retracement going on with the pair so we expect now the price to reach 0.7750 area which marks a very important structure. We expect a test of this area then price to continue down to the Monthly S1 as nearest structure to serve as support.
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