AUDUSD (long) breakout today - did anybody catch it? Lots of confluence

[victoriajensen]

The pair is still testing the support at 0.7550, but this week there should be a further move to the downside.

 

[victoriajensen]

The pair is almost back to 0.7500, there will likely be a breakout below that level.

 

[victoriajensen]

After a brief breakout below 0.7500 and a fall to 0.7475 AUD/USD bounced off from that support and is currently retracing. Next target is likely at 0.7580.

 

[victoriajensen]

The pair is consolidating below 0.7580, if it breaks out above that level it could move to the upside towards 0.7650.

 

[victoriajensen]

Even the fundamentals today couldn't end the sideways consolidation, which will likely continue into the next week.

 

[izzy_63]

Bullish trend continues after better than expected retail sales data, bullish acceleration might be expected if the pair break above resistance zone 0.7660/70.

 

[victoriajensen]

I completely agree, next target will likely be around 0.7700 or even above that level.

 

[victoriajensen]

It found some resistance at 0.7665 and bounced off from it but it will likely rally to test that resistance once again soon.

 

[victoriajensen]

The pair has formed a shooting star candlestick at 0.7660 on the four-hour time-frame, there will likely be a new move to the downside.

 

[AngieB]

The AUD/USD pair pushed higher today extending the bullish sentiment started form May 9th. The pair surpassed the 61.8% Fibonacci retracement of latest April to May bearish run and surged to daily high at 0.7676. Having in mind that the pair failed to break above its daily high and directionless indicators on the four hour time frame,we might see again it around the support provided by 61.8% Fibo at 0.7660. On the other hand the upcoming session will bring Australia’s AIG Performance on Construction Index for May and the April trade balance figures, which are supposed to show goodish figures more likely will give the Aussie an additional boost. In this scenarion bulls will try to fight the 0.77 level which if broken will open doors for tesitng 0.7740.