the daily charts. Based on the early price action and yesterdays low.7162, the direction of the AUD/USD on Wednesday is likely to be determined by trader reaction to the uptrending Gann angle.7165. A break through this level could a steep break into the next uptrending Gann angle.7125. The Federal Reserves latest policy statement suggested that the central bank is on track to increase borrowing costs in September. The Tenkan-sen (nine-period moving average, red line) and the Kijun-sen (twenty six-period moving average, green line) are negatively aligned. That is also bearish for gold. The price action suggests investor indecision and impending volatility. The main trend is down according to the daily swing chart. Going forward, we see further. On its way down, support can be seen at 11However, note that gold has shed 11 since prices peaked in April, and not too far from the current levels we have a strategic support in the zone, where the bottom of the monthly Ichimoku cloud.
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A sustained break below 1194 could offer enough inspiration for the bears to send prices lower. Look for a downside bias to develop on a sustained move under the uptrending Gann angle.7165. Published August 13, 2018 2:41pm, tags: Australian dollar, in our previous take on the Australian dollar in late February, we wrote that falling commodity prices, an ongoing slowdown in China, and weak domestic conditions (looking at both economic data and monetary policy expectations) were significant headwinds. The Australian Dollar is trading lower early Wednesday, but inside yesterdays range. Interest rates will further support the dollar continued to weigh on the market, pushing gold down for the fourth week in a row.
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Forex, technical, analysis, october 3, 2018, forecast.
Based on the early price action and yesterdays low.7162, the direction of the AUD/USD on Wednesday is likely to be determined.
Weekly Trade Levels for EUR/USD, AUD/USD, Gold, More.