AUDUSD

Channel broken to the downside. Momentum has now stalled but if price falls below 0.7300, I am shorting all the way down

The pair has been in consolidation mood in July, waiting for breakout points to determine a clear direction.

Target Level : 0.7367
Target Period : 2 days

Analysis :
Triangle identified at 30-Jul-01:00 2018 GMT-2. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.7367 within the next 2 days.

Supporting Indicators :
Downward sloping Moving Average

Resistance Levels :
( B ) 0.7406Last resistance turning point of Triangle.

Support Levels
( A ) 0.7367Last support turning point of Triangle.

The upbeat Australian data released this morning, failed to support the Aussie and AUD/USD is trading around 0.74. Readings on the H4 provide bearish short-term picture.

Traders were selling into the good news so this has to be a strong sign that price is going to fall for quite some time on aussie

Target Level : 0.7328
Target Period : 6 hours

Analysis :
Descending Triangle has broken through the support line at 03-Aug-06:00 2018 GMT-2.

The pair remains under pressure trading within the range around 0.74 zone, continue to be lack of directional strength.

The pair has recovered the bearish gap over the weekend, immediate support at 1.2720 breaks below will further the decline.

i believe the next serious support level as per the weekly charts for the pair is at the 0.72024-0.71759 level

I can see that being blown through unless momentum starts to fall soon

SarahDW posted:
The pair has recovered the bearish gap over the weekend, immediate support at 1.2720 breaks below will further the decline.

I believe the momentum has started picking up as the [air has broken through the .72633 support that has been the barrier for a large part of the day.

Aussie has entered an upward correction movement, currently trading just above 0.73 level, but the pair still remains in the negative territory. Support level can be found at 0.72 level.

Yeah, I'm still negative on this pair. As soon as the price starts falling again I am re-entering