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Derived real-time data in partnership with:
Thomson Reuters
Jul 18 - 02:36 AM
AUD/USD - Beyond The Short Term Noise, Trend Remains Lower
First appeared on eFXplus on Jul 18 - 12:35 AM
  • Tight range today in Asia, as 0.7300/0.7500 range enters a second month
  • Leaves daily charts showing conflicting momentum studies, 5, 10 & 20 DMAs
  • Despite this, the falling trend channel, which began in Feb remains valid
  • Weekly charts remain bearish with 5, 10 & 20 week MAs trending south
  • Thus looking through the short term noise, the primary trend is lower
  • Channel top a distant 0.7556, on balance selling strength remains favoured

aud jul 18 Click here

Source:
Thomson Reuters IFR Markets

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