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Home » Technical Analysis » AUDUSD Further Bearish Movement Expected

AUDUSD Further Bearish Movement Expected

Posted by tarantulafx in Technical Analysis - June 29th, 2015 1:55 pm GMT


AUDUSD has broken through the weekly trend line support and currently it is retracing towards possible rejection zone. POC comes at 0.7680-90 ( H3, 61.8, trend line, near term sellers ) but we also need to pay attention to any close below the level. The pair has closed “retail gap” after the weekend volatility caused by Greece/EUzone negotiations and it has reached 0.7585 where it has made a spinning top/master candle rejecting the support for further retracement to the upside. POC zone could reject the price towards next support – 0.7620 while the momentum break ( with stop grab ) or H4 close below 0.7585 should target 0.7540.

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