The AUDUSD has endured a rather sharp correction which was blown out of proportion. This pair has formed a narrow falling wedge which makes a break-out very simple. Support and resistance levels are very tight and closing in even further which will pressure this pair into a break-out. MACD showed improvement and has stabilized, but remains in bearish territory. Watch MACD turn positive during the break-out for confirmation. The RSI has just shaken off oversold levels and formed a positive divergence which is another bullish sign...
The AUDUSD has declined from its resistance level and the descend was halted by its support level which is enforced by its 200 DMA as visible in this H4 chart. We believe this pair will form a temporary bottom here at support and attempt to launch a rally back into its resistance level. MACD has indicated that momentum has been weak and crossed into bearish territory. We expect another centerline crossover during the next rally which should be on weak volume. RSI has reached oversold territory and offer the final indicator for a...
The AUDUSD has endured a rather sharp correction which was blown out of proportion. This pair has formed a narrow falling wedge which makes a break-out very simple. Support and resistance levels are very tight and closing in even further which will pressure this pair into a break-out. MACD showed improvement and has stabilized, but remains in bearish territory. Watch MACD turn positive during the break-out for confirmation. The RSI has just shaken off oversold levels and formed a positive divergence which is another bullish...
The AUDUSD has been correcting alongside its bearish price channel as visible on this H1 chart. The pair has now reached its declining support level from the formation which should provide it for a platform to rally back to the declining resistance level of the formation. Furthermore, twin hammer candlesticks have formed at support which is a strong bullish indicator. MACD is bearish and confirms the bearish price channel of this pair. Given the bearish momentum, MACD currently indicates that this pattern will remain intact and...
The AUDUSD has rallied from its recent low as visible in this H4 chart. The pair ran into heavy resistance as it formed a triple top formation. The first part of the triple top formation allowed this pair to break down to its 100 DMA before starting a rally that formed the second top which saw its correction stopped by the rising support line that allowed this pair to form its triple top. The next correction may cause a breakdown back to the 100 DMA. MACD shows that momentum has faded through each top and it continues to fade....
