AUD/USD short

2 ส.ค. 2016

AU has broken minor resistance and has now found support on that resistance line and new resistance at (.762). The newfound support also lines up with 23% fib which could slightly strengthen its support. TDI indicator isn't showing overbought yet either which means their is more room for a bullish market. AU will likely continue to increase to .764 where it has tested twice before and has not managed to break before falling down to .75002

On a monthly chart we have yet to break the down trending channel but weekly we are in an ascending channel noted by the diagonal red lines and price has yet to break this trending channel as well. NFP could be a driving factor in breaking the weekly channel.