The Australian dollar/U.S. dollar currency pair has been coiling for a few weeks now. The bodies of the weekly candlestick bars have been getting smaller as price tested long-term support around 0.7650. This was formerly a major resistance level. In addition, it is also where a long-term bullish trend line comes into play. Thus, the fact that the AUD/USD is holding above this level is significant. Could we now see some range expansion to the upside?
- Next story Daily markets morning round-up: E-mini S&P, gold, crude & Treasuries
- Previous story SIX Makes Notable Cross Below Critical Moving Average
AAT BABA,BAX,OTCPK:NSRGY Banks Bitcoin Blockchain Blog Buy Gold CBRL China crisis Cryptocurriency Currency Debt DOLLAR Economy EGO European Union FB GE,PRGO,APC,DXC,WBA,ADI,WPM GLO,MSD,HTZ,THC,AKS,AVP,SM Gold goldcoin gold coin Gold coins Gold Price Gold Trend Analysis hard money HP inflation Investment KRNT,TRIL,TUES,SYRS,MRAM,MVIS,IOTS LSE:ACA Money News NOMD NXPI,DVMT,SINA,RYAAY,WFT,GOGO,AABA NXPI,ESES,AAP,HK,GST,CFCO,UPL ORCL,AMZN,MSFT,IBM Quantitative easing savings SPY,DJI,QQQ Uncategorized United Kingdom USA VIAV,MMYT,KHC,EPC,TWX,BABA,AABA