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Tuesday, August 6, 2013

AUD/USD TECHNICAL ARTICLE ON AUGUEST 06




The USD has ended up its gain against the AUD on last week. Similarly, the AUD on Monday recovered from its sell and the close point of 0.89289 was more than that of yesterday’s open and thus the trend revives to the AUD and will predict gain for this week. 

The consecutive downtrend had been noted from February of this year and the serious downtrend has led to the two year low of 0.88471. This clearly resumes the trend reversal from the big picture pattern. 

The AUD has already begun the trend reversal with other peers on the day before USD’s trend reversal. The reason behind this trend reversal is noted by the successive good impact economic releases. 

The technical traders believes that the trend to continue its retrace value. At least it should compromise the last week 500 pips short. It is so highly appreciated by the short term moving average implies the strong uptrend towards the resistance point of 0.93410, if any economic releases are not supposed to give any favor to the USD.

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