• 722 days Will The ECB Continue To Hike Rates?
  • 722 days Forbes: Aramco Remains Largest Company In The Middle East
  • 724 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,124 days Could Crypto Overtake Traditional Investment?
  • 1,129 days Americans Still Quitting Jobs At Record Pace
  • 1,130 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,134 days Is The Dollar Too Strong?
  • 1,134 days Big Tech Disappoints Investors on Earnings Calls
  • 1,135 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,136 days China Is Quietly Trying To Distance Itself From Russia
  • 1,137 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,141 days Crypto Investors Won Big In 2021
  • 1,141 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,142 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,144 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,145 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,148 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,149 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,149 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,151 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

AUD/USD: New Lower High Likely in Place

AUD/USD is declining sharply, breaking the hourly support at 0.9271 (28/05/2014 high). As a result, a new lower high at 0.9329 has likely been posted, increasing the odds of a potential declining triangle formation. A test of the key support at 0.9206 is likely. Another support stands at 0.9155 (38.2% retracement of the rise from 0.8660). An initial resistance lies at 0.9276 (intraday low).

In the medium-term, the successful test of the key resistance at 0.9448 (20/11/2013 high) and the break of the rising trendline suggest the end of the phase of AUD appreciation. However, a break of the key support at 0.9155 (see the 38.2% retracement of the rise from 0.8660 and the 200 day moving average) is needed to confirm such scenario.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment