Andrea ForexMart
Broker Representative
AUD/USD Technical Analysis: July 29 2016
The U.S Federal reserve remained their decision in keeping the rates constant but the dollar still falls below. The financial market is uncertain if the Fed will made some changes in U.S bank rates for the month of September.
The financial instrument stays well below from its daily high at 0.7550.The currency pair test the level 0.7500 and indicated a bearish side. The resistance level lies at 0.7600 while the support can be seen at 0.7500.
RSI occurred in the overbought market which implies a sell signal whereas the MACD depreciated by which resulted the position of the buyers to weaken.
The exponential moving average of the pair is directed to 50 and 100 day in the hourly chart. It also presented 50, 100 and 200 which are neutral moving averages.
In case that the price of the pair breaks beyond the resistance level of 0.7500 and bounds lower down the trendline is expected to continue. The next target of the investor is the support level at 0.7400.
The U.S Federal reserve remained their decision in keeping the rates constant but the dollar still falls below. The financial market is uncertain if the Fed will made some changes in U.S bank rates for the month of September.
The financial instrument stays well below from its daily high at 0.7550.The currency pair test the level 0.7500 and indicated a bearish side. The resistance level lies at 0.7600 while the support can be seen at 0.7500.
RSI occurred in the overbought market which implies a sell signal whereas the MACD depreciated by which resulted the position of the buyers to weaken.
The exponential moving average of the pair is directed to 50 and 100 day in the hourly chart. It also presented 50, 100 and 200 which are neutral moving averages.
In case that the price of the pair breaks beyond the resistance level of 0.7500 and bounds lower down the trendline is expected to continue. The next target of the investor is the support level at 0.7400.