AUDUSD cracks daily cloud base. Consolidation expected before bulls resume

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro turned near-term focus higher on yesterday’s rally from 1.1170 low, where dips found support and left hourly higher base, guarding more significant 1.1155 support, 200SMA / bull-trendline, drawn off 1.1103, 23 Sep low. Fresh rally penetrated daily Ichimoku cloud at 1.1260, but gains were again capped by bear-trendline, off 1.1712 peak, keeping intact key barrier at 1.1335, daily cloud top. This signals that the pair remains directionless in the near-term and is expected to

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