Normal
AUD would appear to be on downward spiral, after yesterdays fall from mid term highs. Still looking at the lower highs lower lows situation that seems obsolete, this pattern appears immanent due to US Inflation figures and hikes, boosting over the AUD. Analyst suggest that more downside prevails as long as 0.6761 is resistance. Pressure in on the AUD.The RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6801 and 0.6850).Our preference:The downside prevails as long as 0.6761 is resistance. look for 0.6663Alternative scenario:Above 0.6761, look for 0.6795 and 0.6815.[ATTACH=full]146790[/ATTACH]
AUD would appear to be on downward spiral, after yesterdays fall from mid term highs. Still looking at the lower highs lower lows situation that seems obsolete, this pattern appears immanent due to US Inflation figures and hikes, boosting over the AUD. Analyst suggest that more downside prevails as long as 0.6761 is resistance. Pressure in on the AUD.
The RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6801 and 0.6850).
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