AUD/USD Price Technical Analysis
The Australian dollar couldn’t have managed to stay above 0.77 we could see the resistance line and bands at this area .it wasn’t bullish breakout, Since August aud/usd has been trading in a relatively narrow corridor between 0.7460 and 0.7750.
We can see in charts the resistance line since 2000, the aud/usd broke this line, and can’t stay above him again –as long as aud/usd will remain below those levels the target will be lower at 0.59 price area
We can see similar move in the chart 1998-1999 years (I had talked a lot of the similar patterns in markets behavior to those years)
My guess is that we are going to see some big corrections nest years, and those trends could start somewhere between mid-January to March
Support area level stay in 0.7620, 0.7540,0.7460.0.7370
Resistance area level stay in 0.7960,0.8060,0.8180,0.8640
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| AUD/USD ANALYSIS |
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice