AUD/USD: Inched Higher And Touched 0.8600
ICN.com | Nov 27, 2014 04:48AM ET
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The pair moved to the upside and breached 1.2500, as stability above the referred to level favors extending the upside move targeting 1.2565 and 1.2620. Trading above 1.2490 is positive, while breaking 1.2390 threatens to fail the suggested expectations.
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The pair breached 1.5730 sharply and is approaching the resistance of the descending channel showing above at 1.5865, and the positive effect of RSI and MACD is still ongoing, so we prefer to remain neutral now to monitor the pair at the mentioned resistance and the support 1.5670. A break above this resistance pushes the pair to start a bullish wave on the short term targeting 1.5965 and extends to 1.6200, while breaking the support pushes the pair to the downside again targeting 1.5500 then 1.5425.
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The pair dropped and is trading below the pivotal support 117.85 and outside the ascending channel showing on graph, which indicates some negativity as other indicators show negativity and the possibility of moving to the downside in the coming period. Breaking 116.90 activates the bearish expectations targeting 116.10 and 115.20, while trading again above 117.85 reactivates the upside move again.
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The pair continued moving to the downside and touched 0.9600, whereas breaking the latter and stabilizing below it favors extending the downside move targeting 0.9540 and 0.9480, while breaching 0.9685 threatens to fail the suggested expectations and activates the positive outlook again.
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The pair is still stable below the bullish key support and 23.6% correction at 1.1270 levels. The negative signals are showing also on Linear Regression Indicators, MACD and RSI. Despite that, we cannot bet now on a downside move in light of the constant failiure to break 1.1205.
Therefore, we remain neutral today waiting for new confirmation signals. From the upside, breaching 1.1365 is required to bringing positivity back.
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The pair inched higher and touched 0.8600, as stability below the referred to level is negative and support the bearish expectations to retest 0.8550, but if the pair broke the referred to level and stabilized below it, this will favor extending the downside move targeting 0.8500 and 0.8400. Trading below 0.8600 is negtive and support the suggested expectations, while breaching 0.8625 threatens to fail the suggested expectations.
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The pair moved to the upside and breached 23.6% correction at 0.7900. A break above the latter is positive and could extend the upside move. In fact, a positive signal is showing on Linear Regression Indicators and MACD, while RSI is moving in an upside move support the possibility of extending the upside move.
From the upside, breaching the resistance 0.7935 is significant to confirm further bullishness, while trading above 0.7850 keeps the bullish possibility valid.
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