Forex: AUD/USD Continues On Bearish Run

 Finding short term support via the 1.0469 figure a day ago, the AUDUSD has now continued on its bearish run lower.  The downside violation now opens scope for a dip 1.0327 in the near term, confirmed by the break of 1.0148-1.0306 ascending trendline support.  Technical oscillators are supportive of the decline, still relatively in overbought territory.

 

NZDUSD

 

In similar fashion, NZDUSD has broken through support at 0.8318, lending support for a 0.8122 support test in the near term.  Further penetration below the 0.8122 would open the door for a decline to as far as the 0.8052 mid-November swing low. 

 

USDCAD

 

Finding support via the noted 0.9844, USDCAD surged higher, and looks likely to close above the 0.9906 near term resistance figure.  The setup would portend a move higher towards the parity level against the US dollar.

Views: 28

Comment

You need to be a member of Forex Social Network to add comments!

Join Forex Social Network

Members

© 2014   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video