The USD has ended up its gain against the AUD on last
week. Similarly, the AUD on Monday recovered from its sell and the close point
of 0.89289 was more than that of yesterday’s open and thus the trend revives to
the AUD and will predict gain for this week.
The consecutive downtrend had been
noted from February of this year and the serious downtrend has led to the two
year low of 0.88471. This clearly resumes the trend reversal from the big
picture pattern.
The AUD has already begun the trend reversal with other peers
on the day before USD’s trend reversal. The reason behind this trend reversal
is noted by the successive good impact economic releases.
The technical traders
believes that the trend to continue its retrace value. At least it should
compromise the last week 500 pips short. It is so highly appreciated by the
short term moving average implies the strong uptrend towards the resistance
point of 0.93410, if any economic releases are not supposed to give any favor
to the USD.
No comments:
Post a Comment