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AUD/USD bulls blocked before 0.7400 again - BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at Brown Brothers Harriman explained that the Australian dollar had been trending gently higher since late-August when it briefly slipped below $0.6900.

    Key Quotes:

    "It has been blocked in front of $.7400 twice, once in October and then again here in December.

    The trend line connecting the early- and late-September lows and the November low is found near $0.7080 now and a little above $0.7090 at the end of next week.

    It finished last week just above $0.7170 support and the 61.8% retracement of the last leg up that began in early-November (~$0.7160)."
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