AUD/USD: Technical Analysis
Previous analysis confirmed – the price keeps on moving down and it has already breached the first barrier on the way down – level 1.0440 and declined further down to the next support at 1.0360/50 level, also mentioned earlier. Indicators are “bearish”, which gives reasons to anticipate dissension to 1.0220 target. Growth above 1.0720 level, followed by 1.0630/50 resistance breakout will indicate a possible reversal up in a medium-term.
GBP/USD: Technical Analysis
Forecasts, expecting further sideways consolidation in this pair, confirmed. At the moment, however, the price is attempting to breach the range’s support – trading is carried out at 1.5800/1.5790 level. Indicators are turning abruptly down, but to actually recommence their trend, the “bears” will have to breach 1.5750/40 level. Should they succeed, new targets will be found at 1.5430, 1.5270 levels. Until then, “bullish” trend should be still considered dominating. Growth to new local maximums should be expected if the price breaches 1.5910/20 resistance and retraces back to the uptrend channel (red) line.
Analysis By: Forex4you Analyst Arkady Nagiev.
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