Technical
analysis:
AUD/USD
has been trading downside
after the breakout of the rising trend-line and triangle pattern in
the background, there is chance for further downside movement.
Trading
recommendation:
Due
to the breakout
of the rising trend-line and triangle pattern in the background, I see
potential for further drop towards downside references.
Watch
for selling opportunities on the intraday rallies with the downside
objectives at 0.6412, 0.6300 and 0.6215.
MACD
oscillator is showing downside
reading, which is sign that sellers are taking control.
Key
resistance
is set at the price of 0.6505
The material has been provided by InstaForex Company – www.instaforex.com
