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Technical Analysis
Navigation FX - Technical & Fundamental Analysis
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[QUOTE="Navigation FX, post: 116229, member: 39595"] [SIZE=6][B]AUD/USD – Ascending triangle with strong support[/B][/SIZE] Yesterday the RBA held interest rates again at +1.5% for December. We can see on the technical analysis that there is a strong resistance at 0.7498, with an ascending triangle being formed. [IMG]http://www.navigationfx.com/wp-content/uploads/2016/12/audusd-d1-metaquotes-software-corp-3-1024x558.png[/IMG] There is also stipulation that if the resistance is broken that buying momentum will significantly increase hitting the 200 DMA gaining a minimum of 30 pips. If this does happen, the new resistance may well act at 0.7550 – 0.7581 respectively, just surpassing the 50 and 100 DMA. [/QUOTE]
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