AUD/USD: the pair fell2017-03-03 16:36 (GMT+2) AUD/USD

Current trend

After the significant growth in the beginning of the year due to the weakening of the USD and growth of the raw material prices, the price reversed downwards in the end of the previous year. The lowering momentum also became the Head of the RBA Philip Lowe’s speech, when he noted that the interest rate will not be changed in the nearest future. The pair was also pressed by the growth of the USD sue to the expectations of the FRS interest rate rise.

Today the members of the USA FRS Open Market Committee members and the Head of the FRS Janet Yellen, which can support the USD, are worth attention.

Support and resistance

The pair is lowering, breaking the lower border of the short term upward channel. The lowering of the price to the levels of 0.7370, 0.7400 is expected in the middle term.

Technical indicators reflect the development of the downward trend. The Bollinger Bands indicator is reversing downward. The MACD histogram is in the positive zone, its volumes are decreasing rapidly.

Support levels: 0.7515, 0.7445, 0.7400, 0.7240, 0.7200, 0.7160.

Resistance levels: 0.7610, 0.7695, 0.7735, 0.7780, 0.7810, 0.7870, 0.8000.

Trading scenario

Open short positions open at the current price with the target at 0.7370, 0.7400 and stop loss at 0.7620.

AUD/USD: the pair fell 2017-03-03 16:36 (GMT+2) AUD/USD

AUD/USD: the pair fell

Scenario

Timeframe Weekly
Recommendation SELL
Entry Point 0.7567
Take Profit 0.7370, 0.7400
Stop Loss 0.7620
Key Levels 0.7160, 0.7200, 0.7240, 0.7400, 0.7445, 0.7515, 0.7610, 0.7695, 0.7735, 0.7780, 0.7810, 0.7870, 0.8000
Follow us or share
Share

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>