Technical Analysis
16.10.2020, 05:56

AUD/USD continues to decline yesterday

Yesterday the AUD/USD was trading lower and closed the day in the red around the $0.7090. Today it dropped slightly, dropping to $0.7070. On the hourly chart, AUD/USD is still trading below the MA (200) H1 line ($0.7160). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering to the south direction in trading and while the AUD/USD remains below MA 200 H1, it may be necessary to look for a sell entry point to form a correction.

  • Resistances levels are at: $0.7145, $0.7190-00, $0.7230-40

  • Support levels are at: $0.7055, $0.7035, $0.7005

Probably, the main scenario - is the continuation of the downward movement to $0.7055 (Oct 15 low). Alternative scenario - may be final consolidation above MA 200 H1 with further growth to $0.7230 (Oct 12 high).

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location