The Varengold Bank Research Team shares the technical outlook for AUD/USD.
Key Quotes
“Technically the AUDUSD is in a clear downtrend once conformed the H-S pattern.”
“The pair is closed to the very long term trend-line which should be strong enough to support the bearish trend, at least at first. If this mentioned trend-line is finally crossed, we identified 3 support levels, being the most important, the last one, at 0.6330, coinciding with the H-S projection.”
“On the other hand, if a bounce happen, we also identify 3 important resistances, being the most important the broker neckline of the mentioned H-S pattern.”
“Support Levels around 0.7100, 0.6775, 0.6330”
“Resistance Levels around 0.8000, 0.8650”
Key Quotes
“Technically the AUDUSD is in a clear downtrend once conformed the H-S pattern.”
“The pair is closed to the very long term trend-line which should be strong enough to support the bearish trend, at least at first. If this mentioned trend-line is finally crossed, we identified 3 support levels, being the most important, the last one, at 0.6330, coinciding with the H-S projection.”
“On the other hand, if a bounce happen, we also identify 3 important resistances, being the most important the broker neckline of the mentioned H-S pattern.”
“Support Levels around 0.7100, 0.6775, 0.6330”
“Resistance Levels around 0.8000, 0.8650”
