AUDUSD technical outlook for the month of August 2016

The medium-term uptrend in the daily chart is advancing towards the critical resistance level which will help the trader to identify the potential bottom of the AUDUSD pair. Professional traders are keenly waiting for the market and playing on the sideline keeping the key resistance level 0.7800 level in mind. If the pair manages to break this level then we might see some strong bullish momentum in this pair which will ultimately challenge the long-term favoring down trend of the pair. This week is very much critical for the pair since the upcoming FOMC is going to make the decision Continue Reading →