For Traders

Analytical Reviews

Technical analysis

11.08.202115:55 Forex Analysis & Reviews: AUD/USD Reverses!

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

AUD/USD jumped higher after failing to reach and retest the downtrend line and 0.7305 former low. It approached 0.7403 level which was seen as an upside obstacle in the past. Technically, making a new higher high, jumping above 0.7419 level could signal further growth.

Escaping from the down channel, AUD/USD has signaled that it could turn to the upside as the downside movement is over.

Trading Conclusion!

Jumping above 0.7419 and beyond the 0.7420 level could really indicate that AUD/USD will resume its growth in the upcoming period.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.