14/11/14 AUD/USD resistance at 0.874 crucial as potential head and shoulders is forming.


dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD Australian dollar closed the trading day at around its opening price, forming a doji on the daily chart that forced traders to sit tight as the exhaustion happens just below the 161.8% of the downtrend at 0.874 support

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD The 104 moving average in orange changes to dip downwards as the candlesticks reversed at 0.874 resistance. A failure to break above the blue upwards sloping trendline sees a a subdued uptrend and further slides are expected.

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD A failure to break above 0.872-0.874 today will likely see resistance tested as a head and shoulders formation that will see AUD/USD fall towards supports 0.868, 0.863, 0.856. Note the MACD still shows signs of bullish trend action but the moving averages have dipped slightly.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight bullish / near resistance  0.856 0.8627 0.868 0.874 0.877 0.882 0.874 0.882 0.863
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