AUD/USD Technical Analysis: Aussie Drops to 6-Year Low

| 27 juli, 2015 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Support: 0.7251, 0.7129, 0.7031
  • Resistance:0.7326, 0.7448, 0.7508

The Australian Dollar resumed the down trend against itsUS counterpart, dropping to the lowest level in over six years. Near-term support is at 0.7251, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 0.7129. Alternatively, a move above the 14.6% Fib at 0.7326 opens the door for a challenge of the July 21 high at 0.7448.

Prices are too close to support to justify entering short from a risk/reward perspective. On the other hand, the absence of a defined bullish reversal signal suggests that taking up the long side is premature. With that in mind, we will remain flat for now.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

AUD/USD Technical Analysis: Aussie Drops to 6-Year Low

— Written by Ilya Spivak, Currency Strategist for

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

E-postadressen publiceras inte. Obligatoriska fält är märkta *