AUDUSD Plunges as Bears Gain Strength

The Australian Dollar (AUD) inched lower against the US Dollar (USD) on Monday, decreasing the price of AUDUSD to less than 0.7850 following some key economic releases. The technical bias shall remain bullish because of a higher high in the ongoing upside move. AUD/USD Technical Analysis

As of this writing, the pair is being traded around 0.7820. A hurdle can be noted near 0.8024, an immediate horizontal resistance level ahead of 0.8100, the psychological level and then 0.8249, the high of the last major upside rally as demonstrated in the given below chart. Imgur Read more: http://ift.tt/2hKtWmo

submitted by /u/izveniklickov
[link] [comments]

Read More

Popular posts from this blog

World Economic Forum Bitcoin Discussions Validate the Movement

The World Economic Forum WEF has long been a lightning rod of global discussion on economic, social and political trends. This years gathering in Davos, Switzerland, was no exception.Blockchain technology emerged center stage last week as a key discussion theme, receiving praise from attendees for its cutting-edge potential. Bitcoin and the future of cryptocurrencies, too, were highly discussed topics at the forum, not just casually but also in an official session and a few panel discussions.
Read more