NatureForex Technical Analysis – AUDUSD
NatureForex – USDCHF The Aussie broke through the green bearish line (D1), which is indicating the last two tops of the price. The break appeared via a rising wedge formation, which the price is still located in. Having in mind the break, the price is likely to increase, but the rising wedge formation speaks of an eventual decrease with the size of the wedge. For this reason, we believe that the price might increase a bit more, and then it could drop in order to test the already broken green bearish line as a support. There is also a bearish divergence between the chart of the Aussie and the momentum indicator, which also supports the eventual bullish decrease.
By Naturefx
NatureFX-Id.com 12 Jun, 2014
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Source: http://www.naturefx-id.com/natureforex-technical-analysis-audusd/
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