Aussie trades in near-term triangular consolidation

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD Near-term price action consolidates within 1.1331/1.1395 range, following two-day pullback from 1.1495, double upside rejection level. Pullback cracked pivotal 1.1355/42 support zone, broken former bull-channel top / 13 Oct higher low, but failed to close below and confirm break. Two days close in red and weekly Doji with long upper shadow, keep the downside under pressure. However, daily technicals are bullishly aligned, with rising 10SMA offering immediate support at 1.1342. Slide

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