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16th Oct 2014 AUD/USD Analysis

16th Oct 2014 AUD/USD Analysis

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 0.885 is a strong resistance to beat as volatility subsided once price is attained in yesterday’s trading

 

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 trades above 0.872 as higher lows lift traders’ sentiment on a retracement

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 Traditional MACD signals a return of intraday bullishness and the key level remains 0.885, 0.89

The recent sideways movement bears an uncanny resemblance to that of May 2013 when the market took a break to consolidate from the bearish trend that saw AUD/USD fall from 1.06 – 0.885. Thought the intraday movement looks slightly bullish, there is limited upside as RBA Assistant Governor Guy Debelle is involved in a conference today and little optimism is expected as the economy picks up clues on monetary direction from his words.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bullish / Near Resistance0.8650.8720.8770.8850.890.892 0.8920.8970.872

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