AUDUSD Weekly Analysis – June 5, 2016
AUDUSD remains in downtrend from 0.7834, the rise from 0.7144 is likely correction of the downtrend.
AUDUSD remains in downtrend from 0.7834, the rise from 0.7144 is likely correction of the downtrend.
The EURUSD pair initially fell during the course of the session on Wednesday, but then turn right back around as the Euro gained in general.
The AUDUSD pair initially went much higher during the course of the day on Wednesday, reaching all the way to the 0.73 handle.
The EURUSD pair initially tried to rally during the day on Tuesday, but turned right back around to form a shooting star.
The NZDUSD pair broke higher during the day on Tuesday, clearing the top of the hammer that formed on Monday.
China’s central bank, the People’s Bank of China (PBOC), injected 55 billion yuan (US$8.3 billion) into the money market on Tuesday to ease a liquidity strain.
The EURUSD pair rose slightly during the course of the day on Monday, but you have to keep in mind that the Americans were away for the Memorial Day holiday.
The AUDUSD pair initially fell during the course of the day on Monday, but turned back around to form a hammer.
Wanda Group will open its first outdoor entertainment complex in province of Jiangxi on Saturday. The launch of its Nanchang Wanda City looks perfectly timed by the company’s ambitious founder, billionaire Wang Jianlin, to take at least some of the thunder from its biggest potential rival.
EURUSD has been trending lower on its 1-hour time frame, moving inside a descending channel connecting the latest highs and lows. Price appears to be on its way to test the resistance once more after the channel support held.