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Forex Discussions
Technical Analysis
Forex Market Commentary By TitanFX
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[QUOTE="titanfx, post: 106486, member: 33464"] [SIZE=6][B]AUDUSD – Can Aussie Dollar Retain Bullish Bias?[/B][/SIZE] [SIZE=5][B]Key Highlights [/B][/SIZE] · The Aussie dollar finally found bids near the 0.7440 support area against the US dollar. · There was a major bearish trend line break noted on the hourly chart of the AUDUSD pair. · In Australia, the Consumer Price Index was released by the RBA and republished by the Australian Bureau of Statistics. · The forecast was lined up for a rise of 0.4% in the CPI in Q2 2016, and the outcome was as forecasted. [SIZE=5][B]AUDUSD Technical Analysis[/B][/SIZE] The Aussie dollar after trading as low as 0.7440 against the US Dollar found support and recover. The AUDUSD pair is currently trading positive, but can it retain the bullish bias? [IMG]https://s32.postimg.org/ep5d5ad2d/AUDUSD_07_27_2016.png[/IMG] The pair during the recent recovery broke a major bearish trend line break noted on the hourly chart, and also closed above the 100 hourly simple moving average. However, the pair is currently struggling near the 200 hourly SMA, and failed once to close above it. I think buying dips can be considered as long as the pair is above the 100 hourly SMA. ------------------------------------------- [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B] [/QUOTE]
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