forex trading aud usd analysis

the next target a support cluster.7373. The price action suggests investor indecision and impending volatility. Trader reaction to this zone will determine the near-term direction of the. The major 50 level.7397 is controlling the longer-term direction of the. This allowed traders to earn rollover for being long.

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On Tuesday, the currency posted a steep loss with the selling fueled by a dovish Reserve Bank of Australia, but mostly by a drop in demand for risk. Look for a downside bias to develop on a sustained move under the uptrending Gann angle.7165. Early Tuesday, the Reserve Bank of Australia will release its latest interest rate decision. At 2330 GMT, the, aUD uSD is trading.7395, down.0003 or -0.04. The angle.7214 is also the trigger point for an acceleration to the upside. If successful, this would also form a secondary higher bottom. A break through this level could a steep break into the next uptrending Gann angle.7125. If this generates enough upside momentum we could see a test of a pair of Gann angles.7425 and.7429. A trade through.7142 will reaffirm the downtrend. Of recent, tides have appeared to change as economic difficulties in China norwegian forest cat rescue virginia coupled with bear markets in metals and many commodities, have created a more opaque picture of the future of Australia's financial prospects.

Its retracement zone.7391.7373. A trade through.7318 will change the main trend to down.