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Australian Dollar Technical Forecast: AUD/USD, AUD/JPY, EUR/AUD, GBP/AUD – DailyFX
The Australian Dollar was under selling pressure this past week, but it held its ground. Bearish patterns brew in AUD/USD and AUD/JPY. Will EUR/AUD, GBP/AUD try…
Australian Dollar, AUD/USD, AUD/JPY, EUR/AUD, GBP/AUD – Technical Forecast
AUD/USD Technical Forecast -Neutral
The Australian Dollar is trading within a bearish Descending Triangle against the US Dollar. This also follows a bearish Death Cross after the short-term 20-day Simple Moving Average (SMA) crossed under the medium-term 20-day one. However, AUD/USD remains in a consolidative mode given that the floor of the triangle is holding. A breach under support (0.7006-0.7043) would open the door to…
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