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Technical Analysis
Daily Market Analysis from ForexMart
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[QUOTE="Andrea ForexMart, post: 110891, member: 36651"] [B][SIZE=5]Technical Analysis for AUD/USD: October 3, 2016[/SIZE][/B] The AUD/ USD pair closed the last trading session in the higher trading range but was still unable to go beyond the 0.7700 range, with selling interest rates going stronger as compared to last week. The currency pair has now settled between the 0.7450 - 0.7700 trading range. The pair temporarily fell below 0.7600 last Friday but was able to recover almost immediately due to Fibonacci support. The volume of the Asian trading session for this week is expected to be somewhat limited due to China’s golden week. The daily charts are still exhibiting an upward trend, with prices still above the 20 SMA. Momentum levels are now consolidated above the 100 level and RSI indicators are seen to go beyond 56. The 4-hour chart now has a limited upward trend, especially since prices are having difficulty exceeding above the 20 SMA. On the other hand, other technical indicators are losing their momentum and is expected to go south. Monday’s session might be marked by a slight downward extension at the 0.7600 level. [ATTACH=full]8123[/ATTACH] [/QUOTE]
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