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Forex Discussions
Technical Analysis
Forex Market Commentary By TitanFX
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[QUOTE="titanfx, post: 112793, member: 33464"] [B][I]AUDUSD – Aussie Dollar at Major Crossroads Vs USD [/I][/B] Key Highlights • The Aussie dollar this past week failed to settle above the 0.7740 resistance area against the US Dollar. • There is a monster resistance formed near 0.7720-40, acting as a resistance for the AUDUSD pair. • Today, the Australian Consumer Price Index released by the RBA and republished by the Australian Bureau of Statistics posted an increase of 0.7% in Q3 2016, compared with the forecast of 0.4%. • The yearly change for the Australian Consumer Price Index came in at 1.3% in Q3 2016. [B]AUDUSD Technical Analysis[/B] The Aussie Dollar was seen trading higher during this past week towards 0.7740 vs the US Dollar. However, the AUDUSD failed to gain momentum and declined. Can it trade higher this week? [IMG]https://titanfx.com/wp-content/uploads/2016/10/AUDUSD-10.26.2016-768x401.png[/IMG] If we have look at the 4-hours chart of AUDUSD, there is a monster resistance formed near 0.7720-40. It was the main reason for the failure this past week. The pair even registered a false break, and traded down. The pair is once again testing the same resistance area, so we need to see if there can be a break or not moving ahead. A daily close above 0.7740 may call for further gains in AUDUSD. ------------------------------------------- [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B] [/QUOTE]
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