08 September AUD/USD technical analysis


The Australian dollar fails to break below 0.93 despite the RBA’s firm belief that the currency is high by historical standards, and is experiencing difficulty around the 0.94 resistance for the past week. Look out for 0.9428 for selling entries for the swing.AUD, Australlian Dollar,, CURRENCY FORECAST, AUD OUTLOOK, AUDUSD, AUDUSD FORECAST, TECHNICAL REPORT, 8 September

After resisting at 0.9456 the AUDUSD has formed lower highs and lower lows until the recent third retest of 0.9252. Breaking below of 0.936 may give rise to more sellers adding orders, with 0.9329 the closest obstacles to newer lows.
AUD, Australlian Dollar,, CURRENCY FORECAST, AUD OUTLOOK, AUDUSD, AUDUSD FORECAST, TECHNICAL REPORT, 8 September

Intraday traders may have to keep to the bullish side of the market for this pair as the Traditional MACD stays bullish despite profit takings along the way. Keep an eye out for 0.9412 as the closest resistance if the pair does not go any higher. The reward to risk ratio seems better on the reverse for this, once confirmation of resistance is seen.
AUD, Australlian Dollar,, CURRENCY FORECAST, AUD OUTLOOK, AUDUSD, AUDUSD FORECAST, TECHNICAL REPORT, 8 September

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