You are here:---AUDUSD Technical Analysis (Daily Chart) on 25th October 2016

AUDUSD Technical Analysis (Daily Chart) on 25th October 2016

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AUDUSD – On the daily time frame the Aussie dollar is seen consolidating after an attempt to break higher.

The 07720 price level is a strong level that have held its ground so far. We need to see price close decisively above that level and the 0.775 level before we can say that there is a convincing win on the bull’s camp.

At the moment, this pair is ranging between the R1 at 0.7720 level and support level at S1 (0.774463).

The moving averages are pointing at 3 o’clock and we also have a diagonal support line below which makes up the uptrend channel.

A break below that channel will push this pair lower towards S1.

MACD histogram is also flat at the moment.

Heiken Ashi is showing blue and indicating bullish momentum.

Trade this pair with caution.

I would look to range trade this pair if I were you. Look to short at resistance and long at support levels. It will be great if the trade idea is backed up by price action signals too.

Trade well.

To your success!

Ardy Ismail

Pro Trader & Trading Coach


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By | 2017-03-12T15:01:02+00:00 October 25th, 2016|Categories: AUD Crosses, Daily Technical Strategy|Tags: , , |0 Comments

About the Author:

Ardy is a Professional Forex Trader specializing in the Forex market. He trades using both Technical and Fundamental Analysis and mentors other traders how to trade the Forex market using proprietary trading strategies which he has developed over the years. He started investing in equities in 1999 and trading Forex in 2008. He is the founder and lead currency strategist @ Forexachievers.com

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