The AUD/USD technical sell signal minimum downside target located at 0.7680 has been reached
The AUD/USD technical sell signal minimum downside target located at 0.7680 has been reached. As detailed in 27/1/15 wire, the break below 0.8010 support level indicated that the next downward move was underway and generated a new technical sell signal. The AUD/USD had originally generated a technical sell signal at 0.9203 on 10/9/14, which resulted in the technical outlook and trend turning negative. It subsequently generated further technical sell signals as a result of breaking further key support levels and progressively moving into lower trading ranges. The AUD technicals remain negative, given there is no sign of base forming emerging.
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.