Article By RoboForex.com
AUD/USD
The AUD/USD pair holds within a resistance area above 8/8 level. For the time being, the pair is trying to break +1/8 level from top downwards. In case the price holds below this level, a downward move towards 8/8 (0.7812) can be expected, which can trigger a breakout of the above level and a further move towards 5/8 level (0.7446).
H1-chart: price can rebound from the 5/8 (0.7873) level and once again rise to 6/8 (0.7934). And this level will be the decisive factor to form the subsequent movement. If the 6/8 is rebounded from, the price can move to 0.7446 level. If the 6/8 level is broken through, the market can resume rising higher.
On the M15-chart the VoltyChannel lower edge has been broken, and this suggests a possible downward move of the currency pair.
USD/CAD
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The AUD/USD pair is trading above the resistance area above 8/8 level (0.7324). A breakout of the 8/8 level from top downwards will clear the way for a downward move towards 5/8 level (0.7141).
The H1-chart shows that the price has failed to hold above 5/8 (0.7354) level and didn’t go higher. The breakout of the 5/8 level from top downwards makes it clear that the pair is weak enough and afterwards there can be a downward move towards 0.7141.
The lower edge of VoltyChannel indicator has been broken (see M15 chart), and this suggests a further downward move of the currency pair.
Article By RoboForex.com
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