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Technical Analysis
XtreamForex Daily Technical Analysis
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[QUOTE="xtreamforex26, post: 170718, member: 59158"] [B][SIZE=5][COLOR=#ff0000]Technical Overview of AUD/USD and USD/CAD Currency Pair[/COLOR][/SIZE][/B] [B][COLOR=#ff0000]AUD USD[/COLOR][/B] AUD traded lower against USD and closed at 0.6749. The bid tone around the US dollar strengthened across the board, now pushing AUD/USD back into the red to hit four-week lows near 0.6740. The focus now shifts to the RBA rate decision while poor Australian housing data and US-China trade uncertainty continue to weigh. According to the Analysis, pair is expected to find support at 0.6743 and a fall through could take it to the next support level of 0.6736. The pair is expected to find its first resistance at 0.6765 and a rise through could take it to the next resistance level of 0.6772. [B][COLOR=#ff0000]USD CAD[/COLOR][/B] USD traded higher against CAD and closed at 1.3239. With its failure to cross 1.3263/65 resistance-confluence, USD/CAD drops back towards near-term horizontal support as it trades near 1.3240 during the Asian session on Tuesday. Three-week-old horizontal-line restricts immediate downside. According to the Analysis, pair is expected to find support at 1.3228 and a fall through could take it to the next support level of 1.3220. The pair is expected to find its first resistance at 1.3256, and a rise through could take it to the next resistance level of 1.3264. [B][COLOR=#ff0000]Important Economic Events of the Day[/COLOR][/B] · JPY: Bank of Japan (BoJ) Tankan Large Manufacturing Index · JPY: Bank of Japan (BoJ) Tankan Large Non-Manufacturing Index · AUD: Reserve Bank of Australia (RBA) Interest Rate Decision · AUD: Reserve Bank of Australia (RBA) Governor Lowe Speech · CAD: Canada Gross Domestic Product (GDP) m/m · USD: ISM United States Manufacturing Purchasing Managers Index (PMI) For More information about the release time of news and its impact visit [URL deleted] [B]Economic Calendar Page![/B] [/QUOTE]
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