Monthly reviews

AUDUSD market technical outlook

AUDUSD

Analysis method - “Trend Potential” June 2, 2018

Monthly chart: The pair’s flat continues in the horizontal corridor 0.7271-0.8036 (Bollinger bands). The movement phase is downward (lower band 0.7271 wasn’t reached). Thus, an attempt of this area testing and then new upward bounce can be expected.

chart

Expectations: Reach of the support zone 0.7271 and then bounce to the upside with growth perspective towards 0.8036 region.

Trading recommendations:

  1. Shorts towards 0.7271.

  2. Longs from 0.7271 towards 0.8036.