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Forex technical analysis: AUDUSD moves below support targets, but fails

Discussion in 'Technical Analysis' started by ForexLive, Mar 15, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Key failure puts the buyers in control. The AUDUSD fell below trend line support and the 200 hour MA at the 0.7455 level during the period after the weaker US data (I guess on move out of risk) but has since moved back above the key level. The failure should solicit more buying in the pair against the support level with stops on a re-break below.

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