Wednesday, August 27, 2014

AUDUSD Technical Analysis D1, H1

12:26 AM

On the AUDUSD currency pair continues to have growth. During yesterday's session rumor about cutting the reserve requirement ratio (RRR) by China has led to the strengthening of the Australian currency. From the perspective of the interval H1, we see that the market is currently quite important resistance, which defines both the short-term downtrend line and the supply zone disposed between levels 0,9325-0,9330. If it came to the market can break it in to direction by measuring the upper limit of the downward channel, what better can be observed in the interval D1.

In the vicinity of said barrier is located next area of supply, which will also be encouraged to open short positions. Breaking these levels, from a technical point of view, open the way to growth, even in the vicinity of 0.9420. On the demand side, at the level of 0.9200 we have a very important support, which in the long term is a fairly significant level. After the long shadows that occur in this area, we believe that in the event of re-test, you will see a large number of purchase orders, which again will lead to a growth rebound.

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