Australian Greenback Technical Forecast: Bearish AUD/USD, AUD/JPY
Australian Greenback Technical Highlights:
- AUD/USD support-break seen as promoting catalyst
- AUD/JPY turning off resistance, watching 4-hr chart
Take a look at the intermediate-term basic and technical outlook for main markets and currencies within the DailyFX Quarterly Forecasts.
AUD/USD support-break seen as promoting catalyst
AUD/USD lately ran aground into trend-line resistance relationship again to a peak created in December. The trend-line runs over peaks in April and July, and additional cementing it as a worthy stage of resistance is the 200-day which runs over a number of peaks throughout the course of the previous 12 months.
This units Aussie as much as drop in-line with the broader downtrend in place since February 2018. A break via the decrease parallel of the bullish channel off the October low will add a stage of affirmation to the set-up. Briefly, respect long-term resistance, break short-term bullish sequence to get issues rolling in the direction of decrease ranges.
Within the subsequent week, ought to we see a…