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Forex technical analysis: AUDUSD continues the squeeze higher

Discussion in 'Technical Analysis' started by ForexLive, Aug 2, 2016.

  1. ForexLive

    ForexLive Forum Member

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    RBA cuts, but AUDUSD squeezing shorts. The AUDUSD continues to squeeze higher despite the cut by the RBA earlier today. The fall after the cut held support near the 100 day MA (lower blue line in the chart below). After bouncing off that level and holding above the 200 hour MA (green lower line in chart below), the squeeze higher was on.

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