AUSUSD poised to retest December's Low
|
After breaking out of the 300 pips range (red box) in Mid Nov 2016, AUSUSD Bull attempted to make its way back to the red box and failed. Last Friday's (6 Jan 17) bearish close, (largely due to USD’s strength), potentially forming a lower low, could be an indication that AUSUSD bear is not done yet and would be making another attempt towards 0.7175 – 0.7152 region (Lowest green dotted zone) to potentially form a triple bottom. A strong close above 0.7384 (upper green dotted zone) would invalidate this set-up.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.