Good Times For AUD Ahead

Published 04/11/2017, 07:18 AM
Updated 05/14/2017, 06:45 AM
EUR/USD
-
AUD/USD
-
AUD/NZD
-


EUR/USD bounces from the lower line of the long-term wedge formation, which creates a short-term occasion for a bullish correction. Overall sentiment stays negative. After a small bounce we should see a breakout of that support.


AUD/USD broke an important mid-term support but the breakout is not very convincing. The price is not heading lower and failed to make lower highs and lows. So far we are testing the recent support as a closest resistance and chances that we will come back above are quite high.


AUD/NZD bounced from the long-term neckline, which is very positive for buyers. They are above the down trend line and above the neckline. That is a perfect environment for a further upswing. After a hammer on Friday we had some troubles yesterday but today everything looks much better and most probably that is the end of a short-term correction.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.