AUD/USD
AUD USD
- USD (-)
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Type: Forex
Ticker: AUDUSD
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AUD/USD - AUD/USD Broke The Rising Trend Line - 11/17/2016 (GMT)

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  • Timeframe : Daily

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The biggest loser of the commodity currencies was the Australian dollar which lost approximately 2.5% of its value versus the U.S. dollar hitting a new two-month low. The AUD/USD pair broke the ascending trend, which was holding since January, to the downside and also slipped below the 200-daily SMA. Australian employment numbers are scheduled for release this evening and even a strong post may fail to drive the pair above the 0.7500 significant resistance barrier. Currently, the commodity pair is trading towards the 0.7440 support level and if there is a penetration of the latter level, will expose the price until the 0.7300 psychological obstacle.

Furthermore, the technical indicators on the daily chart are following a negative path. The MACD oscillator fell below the zero line while is also holding below its trigger line. The RSI indicator is approaching the oversold area with some strong momentum.
This member did not declare if he had a position on this financial instrument or a related financial instrument.

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