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August 7, 2014

AUD/USD Daily forex post August 7, 2014

Posted by: ffs @ 03:33 GMT Category: AUD/USD,Daily Forex,Signals

AUD/USD Technical view

Updated:  August 7, 2014 3:33:20 GMT
SPOT AUD/USD Previous day OHLC
Open High Low Close Change
0.9298 0.9373 0.9289 0.9353 0.0051
Today's Support and Resistance
Resistance
Support
R3 0.9500
R2 0.9440
R1 0.9360
S1 0.9300
S2 0.9270
S3 0.9250

The Australian dollar settled with gains versus the US currency, after a volatile session. The pair looks to forming an inverted flag with the near term range at 0.9290- 0.9360. However, key supports are placed at 0.9250- 0.9270, which have to taken out before the Aussie heads to 0.9100- 0.9130. The upside for now should be capped around the 0.9360 mark

Trend direction

  • Short term: Bearish
  • Medium term: Bearish
  • Long term: Bullish

Trading Recommendations

  • Short:

    • Exit short trades initiated at 0.9350 AT THE MARKET * * Current market price- 0.9285

  • Long:

    • N/A
Post ID: 9767
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