wrapper

AUD/USD Daily Forecast - 13 June

Wednesday, Jun 13 2018
AUD/USD Daily Forecast - 13 June

The Aussie dollar edged higher on Wednesday after extension of four-day descend found footstep at 0.7553 (30SMA) and profit-taking on Tuesday’s 0.5% fall pushed the price higher.

Near-term action holds in a downtrend from 0.7676/73 double-top and remains pressured by descending thick daily cloud.

Repeated closes below daily cloud maintain negative near-term tone off 0.7676, as pullback reversed over 38.2% of 0.7412/0.7676 rally so far.

Bearishly aligned daily techs support the notion, with eventual break below 30SMA expected to open next pivotal support at 0.7513 (Fibo 61.8%).

Fed’s rate decision announcement is due later today and may cause increased volatility.

Meanwhile, the pair is expected to hold within narrow range.

Sideways-moving daily Tenkan-sen marks solid resistance at 0.7595, which should keep the upside protected and maintain bearish bias0.7412 low last week.

Bearish scenario requires close below cloud to shift focus lower.

Last modified on Sunday, 24 June 2018
More in this category: « GBP/USD Daily Forecast - 12 June EUR/USD Daily Forecast - 14 June »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.