The AUD/USD has the potential for a further major downward move, with 0.8660 the key level to watch
QMG Pty Ltd
The AUD/USD has the potential for a further major downward move, with 0.8660 the key level to watch. It initially generated a technical sell signal at 0.9203 on 10/9/14 which was the technical turning point. A further break below key support located at 0.8821 then occurred on 25/9/14, which flagged the potential for a pullback to 0.8660 - the January 2014 low point. The 0.8660 level is an extremely significant technical support level, as a close below that barrier if it occurs, would signal the next major downward move.
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Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
Expertise
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.