AUD/USD Heading Lower After Breakout

AUD/USD Heading Lower

AUD/USD is heading lower after finding support on the 200 daily EMA nearly at 0.7530 for consecutive 3 days after the breakout from the triangle made by  the 6-month resistance trendline from the recent high in April,2016 and the nearly 10-month trendline from the bottom in January,2016.

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Post Author: Thilan Perera

Thilan Perera is a trader and a freelancer market analyst. He has been trading currencies, Commodities, Indices and stocks since 2012. His market analysis is based on Fibonnacci, trend lines, Elliott waves, MA analysis, Candlestick analysis, Chart Pattern analysis and momentum analysis along with fundamental analysis in which financial news is involved.

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