The AUD has gained against all of its pairs for
this week and it should be continue on some occasions for the coming week. Besides, there is a belief over the moving
average of EUR/AUD will bring the short to some extent.
The influence of AUD
will make the trend to be short until to find a valuable resistance. On
yesterday, it was hit the resistance of 1.46288 and considered to be as
overbought. Obviously, we can predict the trend back from this point and
actually it did.
The trend has already breaks out the initial support of
1.44985. The overall belief over this short is only by the technical analysis
alone.
In sometimes, the psychology of the forex market will behave opposite to
the technical analysis. But, once the first day of next week will cope with the
technical analysis, it will surely gain the bunch of 70 pips.
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