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Forex technical analysis: The AUDUSD is having some second thoughts

Discussion in 'Technical Analysis' started by ForexLive, May 10, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Should it stay or should it go.... Yesterday, I drilled down into the AUDUSD currency pair (if you missed it, ). here is the link to the video The pair had held resistance at the October and December 2015 highs at 0.7385. It fell below the 100 day MA and 50% retracement (see chart above) and closed below that MA level at 0.7335 today. That is bearish. That was a big deal. There were other little technical bearish clues from the hourly chart like holding below the topside trend line on the hourly chart (see hourly chart below)

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