The AUDUSD currency pair shows a downward interest and reached again the periodic range of 0.7610 / 0.7630, where it touches the support level and formed a pullback. It is possible to assume that the current approach with the level (0.7610 / 0.7630) will play into the hands of the "bears". The bears will try to form a cluster near the value in fixing the platform for short positions. In case that predictions were attained, a smooth fixation below can be seen at 0.7610 with a move to the main support level of 0.7500.
At the same time, traders should not lose sight of the initial variation margin, in case the "bears" fail the level assault. This could lead to a reversal towards the previous range movement 0.7610 / 0.7730.
Key Levels
Resistance is 0.7730; 0.7870; 0.8000 (+/- 50p); 0.8180.
Support - 0.7010; 0.7500; 0.7370.
Signals
- It is recommended to buy the pair at a price above 0.7660, with a possible move to 0.7700 / 0.7730.
- Selling the pair is recommended after a clear fixation of the price below 0.7610, with a possible move to 0.7500.
Attention: Predictions are not a direct guide to action!
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* The presented market analysis is informative and does not constitute a guide to the transaction.
