AUDUSD Forecast September 4, 2014, Technical Analysis
The AUDUSD pair rose during the session on Wednesday, but remains within the consolidation area that we had seen form over the last several weeks.
The AUDUSD pair rose during the session on Wednesday, but remains within the consolidation area that we had seen form over the last several weeks.
EURUSD remains in downtrend from 1.3411, further decline would likely be seen after a minor consolidation, and next target would be at 1.3000 area.
After consolidation, GBPUSD broke below 1.6536 support and continued its downward movement from 1.7190, and the fall extended to as low as 1.6463.
The AUDUSD pair fell during the day on Wednesday, but remained supported near the 0.9250 level, just as we had anticipated.
After touching the downward trend line on 4-hour chart, GBPUSD dropped down from 1.6643, indicating that the pair remains in downtrend from 1.7190.
During a particularly line session on Monday, the EURUSD pair went nowhere.
The AUDUSD pair tried to rally during the day on Monday, but found enough resistance to turn things back around and form a shooting star.
The euro dipped below $1.32 on Friday morning as investors kept a keen eye on the developing situation in Ukraine. The common currency traded at $1.3182 at 6:15 GMT after U.S. economic data helped the dollar rally.
GBPUSD remains in downtrend from 1.7190 (Jul 15 high), the bounce from 1.6536 is likely consolidation of the downtrend.
EURUSD broke above the downward trend line on 4-hour chart, indicating that consolidation of the downtrend from 1.3700 (Jul 1 high) is underway.