The AUDUSD has held below tough support of 0.7325. The Australian dollar keeps falling against the USD. Volume divergence indicates weakening bearish potential.
AUDUSD is forming a double bottom pattern on its 1-hour chart, signaling a potential reversal from the selloff. Price has failed in its last two attempts to break below the .7250 minor psychological support level and is on its way to test resistance at the .7350 neckline.
The AUD/USD pair initially pulled back during the course of the session on Friday but then shot higher towards the 0.74 handle. By forming this hammer, and looks as if the market is ready to continue going higher, but the 0.75 level above should be massively resistive.
AUDUSD's downward movement from 0.8162 expected to as low as 0.7214. Resistance is at the top of the price channel on daily chart. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 0.6800 area.
AUDUSD has grinded lower, turning the focus onto support at .7284/81, and then a stronger support from the spike low at .7216. Below here can see weakness extend to our core bear target from the 61.8% retracement of the entire 2001/2011 bull trend at .7185/80. We continue to look for a more important floor here.
The AUD/USD pair fell slightly during the course of the week, but essentially went nowhere. We recognize that this market is negative overall, but it looks like it’s consolidating in this general vicinity. We believe that it’s only a matter time before the sellers step back into this marketplace though, so we are actually going to look at rallies as potential value in the US dollar.
AUDUSD has a dramatic decline. I'm waiting for a small upward correction to sell it from new local High. This pair is likely to decrease again.
The AUD/USD pair fell for the majority of the week, slicing through the 0.70 level. With that being the case, the market looks as if it is ready to continue going lower, and the fact that we broke down below the bottom of the hammer of course from the previous week suggest even more weakness. With this, we feel that the Australian dollar will continue to fall rather significantly, perhaps head lean down to the 0.65 level given enough time. There are various support levels between here and there though, most obviously in our book the 0.68 handle.
There is a decline at AUDUSD currency pair. I guess, some upward rollback is expected to appear very soon.