Special Focus On AUDUSD

September 15, 2014 in Forex Analysis

AUDUSD: Halts Weakness, Looks To Recover Higher.

AUDUSD: With the pair halting its past week sell off during Thursday trading today, we envisaging a corrective recovery higher in the days ahead. Support lies at the 0.8983 level. A cut through here will turn attention to the 0.8950 level and then the 0.8900 level where a violation will set the stage for a retarget of the 0.8850 level. On the upside, resistance resides at the 0.9108 level where a breach will aim at the 0.9150 level. Above that level will set the stage for a run at the 0.9200 level with a cut through here resuming its broader uptrend towards the 0.9250 level. All in all, the pair faces further downside risk.

audusd_analysis_2fxa

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