Overview :
- According to the previous events, the price of AUD/USD pair has still been trapped between 0.9303 and 0.9380. So, the range of this pair today is likely to be about 63 pips. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign to sell below 0.9385 with the first target at 0.9335, and the price will climb towards 0.9303 in order to test this strong support on July 3, 2014; (it should be noted that at the level of 0.9303 a double bottom will be formed). However, if the pair fails to break 0.9303, the market will indicate a bullish opportunity above 0.9310 because this price will really act as a strong support. Hence, it will be a good sign to buy above 0.9310 with the first target at 0.9337 and it will call for an uptrend in order to continue bullish movement towards 0.9380.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of AUD/USD for July 3, 2014 . Thanks for your support on Technical analysis of AUD/USD for July 3, 2014
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