Back
13 Dec 2015
AUD/USD bulls blocked before 0.7400 again - BBH
FXStreet (Guatemala) - Analysts at Brown Brothers Harriman explained that the Australian dollar had been trending gently higher since late-August when it briefly slipped below $0.6900.
Key Quotes:
"It has been blocked in front of $.7400 twice, once in October and then again here in December.
The trend line connecting the early- and late-September lows and the November low is found near $0.7080 now and a little above $0.7090 at the end of next week.
It finished last week just above $0.7170 support and the 61.8% retracement of the last leg up that began in early-November (~$0.7160)."
Key Quotes:
"It has been blocked in front of $.7400 twice, once in October and then again here in December.
The trend line connecting the early- and late-September lows and the November low is found near $0.7080 now and a little above $0.7090 at the end of next week.
It finished last week just above $0.7170 support and the 61.8% retracement of the last leg up that began in early-November (~$0.7160)."