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AUDUSD - Strong Support At 0.7590 Zone Holds For Now But Downside Remains Vulnerable

Discussion in 'Technical Analysis' started by Kaitlin, Aug 24, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The pair bounced from strong 0.7590 support zone (daily Kijun-sen 50% retracement of 0.7419/0.7758 upleg), which was retested on data-driven fall. Daily studies are weakening (10, 20SMA’s turned to bearish mode) and 30SMA cracked, with daily momentum studies turning negative that supports scenario of further weakness. Yesterday’s close in[​IMG]

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