AUDUSD Forecast June 9, 2015 Technical Analysis
The AUDUSD pair broke higher during the course of the day on Monday, clearing the 0.77 level.
The AUDUSD pair broke higher during the course of the day on Monday, clearing the 0.77 level.
GBPUSD could be done with its short-term selloff since the pair is creating a double bottom reversal formation on its 1-hour time frame.
AUDUSD is testing 0.7532 support, a breakdown below this level will signal resumption of the long term downtrend from 0.9504 (Jul 1, 2014 high),
Friday’s speech from Fed chair Janet Yellan rounded off a seminal week for the markets, with the US dollar bulls returning in force as her comments continued to confirm the prospect of an interest rate rise during 2015, provided economic data continues to support the mild recovery for the US economy.
The EURUSD pair went back and forth during the course of the session on Monday, as we continue to bounce around the 1.10 level.
The AUDUSD pair did nothing during the session on Monday, as we found support at the 0.78 handle.
GBPUSD has been forming higher lows and finding resistance at the 2.1200 to 2.1300 levels, creating an ascending triangle pattern on its 1-hour chart.
The GBPUSD pair found support at the 1.55 level during the session on Wednesday, forming a slightly positive yet neutral looking candle.
The EURUSD pair initially fell during the course of the day on Wednesday, but below the 1.11 level we found a bit of support.
The AUDUSD pair broke down during the course of the session on Wednesday, testing the 0.79 handle.