Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Daily Market Analysis By FXOpen
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Resolve, post: 203450, member: 29339"] [B][SIZE=5]AUD/USD and NZD/USD Could Extend Losses[/SIZE][/B] [img]https://i.postimg.cc/fWtsRHp5/AUD.jpg[/img] [B][I]AUD/USD started a fresh decline from well above 0.7250. NZD/USD is also declining and there is a risk of a move below the 0.6730 support.[/I] [SIZE=3]Important Takeaways for AUD/USD and NZD/USD[/SIZE][/B] [LIST] [*] The Aussie Dollar started a major decline from well above the 0.7250 level against the US Dollar. [*] There is a short-term breakout pattern forming with resistance near 0.7175 on the hourly chart of AUD/USD. [*] NZD/USD also declined sharply below the 0.6800 support zone. [*] There is a contracting triangle forming with resistance near 0.6755 on the hourly chart of NZD/USD. [/LIST] [B][SIZE=3]AUD/USD Technical Analysis[/SIZE][/B] The Aussie Dollar struggled to clear the 0.7270 level against the US Dollar. The AUD/USD pair started a fresh decline below the 0.7250 support level. The pair even traded below the 0.7220 support level and the 50 hourly simple moving average. It traded as low as 0.7146 on FXOpen and started consolidation. There was a minor move above the 0.7155 level. [B]AUD/USD Hourly Chart[/B] [img]https://i.postimg.cc/RCkB67zm/AUDUSD-Chartx.jpg[/img] However, the pair is facing resistance near the 0.7175 level. There is also a short-term breakout pattern forming with resistance near 0.7175 on the hourly chart of AUD/USD. The triangle resistance is near the 23.6% Fib retracement level of the downward move from the 0.7272 swing high to 0.7146 low. The next major resistance is near the 0.7210 level. It is near the 50% Fib retracement level of the downward move from the 0.7272 swing high to 0.7146 low. A close above the 0.7210 level could start a steady increase in the near term. The next major resistance could be 0.7250. On the downside, an initial support is near the 0.7150 level. If there is a downside break below the 0.71350 support, the pair could extend its decline towards the 0.7120 level. Any more downsides might send the pair toward the 0.7100 level. [B]Read Full on FXOpen Company Blog...[/B] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…