There was no hiding place for the Australian dollar last week, which came under relentless and remorseless pressure, with the December futures contract closing with yet another wide spread down candle on Friday, and further confirming the bearish picture for the Aussie dollar.
GBPUSD’s bounce from 1.6051 extended to as high as 1.6276, however, the bounce is likely consolidation of the downtrend from 1.7190 (Jul 15 high),
EURUSD continued its sideways movement in a range between 1.2859 and 1.2987.
The AUDUSD pair broke higher during the course of the day on Thursday, but found the 0.92 level to be far too resistive in order to go higher.
EURUSD is forming a sideways consolidation in a range between 1.2859 and 1.2987.
The AUDUSD pair fell during most of the session on Wednesday, but bounce significantly off of the 0.91 handle, as we formed a massive hammer.
GBPUSD continued its downward movement from 1.6643, and the fall extended to as low as 1.6091.
AUDUSD has been trading inside a rising channel on its 1-hour forex time frame for the past month, but it looks like a breakdown is happening.
GBPUSD’s downward movement from 1.6643 extended to as low as 1.6168.
AUDUSD upward movement from 0.9237 extended to as high as 0.9401.
