AUDUSD Forecast October 15, 2014, Technical Analysis
The AUDUSD pair fell hard during the course of the day on Tuesday, showing the 0.88 level as been resistance.
The AUDUSD pair fell hard during the course of the day on Tuesday, showing the 0.88 level as been resistance.
GBPUSD remains in uptrend from 1.5951, the fall from 1.6226 is likely correction of the uptrend.
EURUSD is facing 1.2791 resistance, a break of this level will signal resumption of the uptrend from 1.2500, then next target would be at 1.2850 area.
AUDUSD appears to be forming a reversal chart pattern on its 4-hour time frame, indicating that the downtrend is already over.
GBPUSD is facing the resistance of the downward trend line on 4-hour chart.
EURUSD is facing 1.2698 resistance, a break of this level will indicate that the downtrend from 1.2994 had completed at 1.2500 already, then further rise to 1.2850 area could be seen.
AUDUSD broke above 0.8826 resistance, indicating that the downtrend from 0.9401 had completed at 0.8642 already.
GBPUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.6524, as long as the trend line resistance holds, the rise from 1.5951 could be treated as consolidation of the downtrend.
AUDUSD moved sideways in a trading range between 0.8642 and 0.8826.
EURUSD has been moving in a downtrend for quite some time, forming a descending trend line in connecting the recent highs.