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AUDUSD Consolidates Around 0.7700 Handle, Following 3-Day Pullback

Discussion in 'Technical Analysis' started by Kaitlin, Apr 25, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    AUDUSD Three-day pullback cracked 0.7700 support (Fibo 38.2% of 0.7490/0.7833) and entered near-term consolidation around 0.7700 handle. Pullback is seen as correction of larger uptrend, with daily 20SMA at 0.7660, expected to contain pullback, before bulls resume. However, bullish weekly candle with long upper shadow may signal extended consolidation, before[​IMG]

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