dimanche 15 mars 2015
AUD/USD – Feeling the Selling Pressure from 0.77 and Looking Lower
Posted on 20:21 by nice news
Over the last week or so the Australian dollar has made a statement and broken strongly through the key 0.77 level which is now providing significant resistance. It has been able to enjoy some short term support around 0.7550 which may be called upon again shortly if it continues to drift lower. At the moment it is providing some hope and keeping the sellers at bay. A few weeks ago the Australian dollar made repeated attempts to move up strongly to the resistance level at 0.7850 however it was rejected every time and sent back easing lower. For over a month it traded within the well established trading range between 0.77 and 0.7850 and many will be hoping it is able to rally and get back within this range. A few weeks ago the Australian dollar moved through the resistance at 0.7850 to reach a new four week high around 0.7900.
In the second half of January, the Australian dollar fell very sharply and break lower from the trading range that had been established roughly between 0.8050 and 0.8200. Back in mid-January it made numerous attempts at the resistance level at 0.82 only to be sent back often before finally finishing that week moving through this key level. In doing so it was able to reach a one month high near 0.83 before being sold back down again towards 0.82 as the resistance and selling activity above this level kicked in. Over the Christmas / New Year period, the Australian dollar seemed to have been content with trading in a narrow range below the resistance at 0.82, which continues to remain a key level as it is presently provides resistance. The Australian dollar experienced a disappointing November and December moving from resistance around 0.88 down to the new lows recently. For a couple of months from September through to November, the Australian dollar did well to stop the bleeding and trade within a range between 0.8650 and 0.88 after experiencing a sharp decline throughout September which
In the second half of January, the Australian dollar fell very sharply and break lower from the trading range that had been established roughly between 0.8050 and 0.8200. Back in mid-January it made numerous attempts at the resistance level at 0.82 only to be sent back often before finally finishing that week moving through this key level. In doing so it was able to reach a one month high near 0.83 before being sold back down again towards 0.82 as the resistance and selling activity above this level kicked in. Over the Christmas / New Year period, the Australian dollar seemed to have been content with trading in a narrow range below the resistance at 0.82, which continues to remain a key level as it is presently provides resistance. The Australian dollar experienced a disappointing November and December moving from resistance around 0.88 down to the new lows recently. For a couple of months from September through to November, the Australian dollar did well to stop the bleeding and trade within a range between 0.8650 and 0.88 after experiencing a sharp decline throughout September which
AUD/USD – Feeling the Selling Pressure from 0.77 and Looking Lower
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