AUDUSD TECHNICAL ANALYSIS

Here is an AUDUSD Technical Analysis on the Daily time frame. It is a major currency pair and one of the 21 currency pairs that we cover in our Forex Signals App that is available on both Android and iTunes. You can also view the Forex Signals App video demo.

AUDUSD on the Daily Time Frame

Price is currently trading below the 15 and 30 EMA. Price is at the bottom range of the channel and is most likely going to go up.

Price is in an upward channel.

Price just came in contact with the slanted support level.

Additional points on AUDUSD

MACD is in red and below the zeroline.

15 and 30 EMA may act as a potential dynamic resistance and there is a chance whereby the price may go back down to the slanted support level.

Conclusion

Price is expected to increase.

 

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Have a great trading day ahead!

Ilyas Ismail

Currency Strategist

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