AUDUSD Daily Analysis – Monday, Oct. 15

AUDUSD pulled back into the trading range between 0.7041 and 0.7130 after touching 07130 resistance, suggesting that the pair remains in the downtrend from 0.7314.

Another fall to towards 0.7041 previous low would likely be seen, a breakdown below this level could take the price to 0.6900 area.

On the upside, a clear break above 0.7130 resistance would indicate that the downside movement had completed at 0.7041 already, then the following upside movement could bring the price back into 0.7200 zone.

AUDUSD 4-hour chart

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.