Aud to usd major resistance ahead for the australian dollar call option definition

.

2016-03-03 12:24:14 Australian dollar AUD to USD AUD/USD AUD-USD AUD USD AUD USD exchange rate The AUD to USD exchange rate went up in recent weeks, but the Australian dollar is about to hit a major resistance level.

http://www.profitconfidential.com/wp-content/uploads/2016/03/AUD-to-USD.jpg Things seem to be going better for the Australian dollar. After plunging more than 10% last year, the AUD to USD exchange rate is experiencing a nice comeback euro dollar exchange rate. Australia posted a better-than-expected gross domestic product (GDP) report on Wednesday, which only added fuel to the fire. On the surface, everything looks great.

However, one indicator is saying that for the Aussie dollar, it won’t be just smooth sailing from here on. In fact, the AUD-USD could be running into a major resistance level.

Before we get into the details, keep in mind that the foreign exchange market is the largest financial market in the world in terms of volume.


There are so many players, and so many forces that could affect the AUD/USD pair us stock market hours. Even the most seasoned traders can be humbled by the market.

Now, in case you haven’t noticed, Fibonacci retracements have worked wonders in the foreign exchange market. It is based on several key Fibonacci ratios that can be used to identify key levels of support and resistance, especially after a major move.

To be more specific, you draw a trendline between two extreme points and then divide the vertical distance by the key Fibonacci ratios. The ratios were amazingly accurate with the CAD/USD pair; this time they may just prove their value again with the Aussie dollar.

The chart below shows the downfall of the Australian dollar against the mighty greenback. Based on the swing high and the swing low, the 38.2% retracement level could become a critical resistance level. As you can see from the chart, the AUD/USD pair has reached the 38.2% horizontal line several times, but it didn’t manage to break above it.

Note that the 38.2% retracement level corresponds to an AUD to USD exchange rate of US$0.73. Today, the Aussie dollar surged to US$0.7285 gbp to usd forecast 2016. Very soon, it could be touching that resistance level again.

Of course, this doesn’t mean that the Australian dollar will stay down forever. There is still a chance that it could break above the resistance. Whether that would happen or not also depends on fundamentals. If there is more good news about Australia’s economy, and particularly about its exports sector, the AUD to USD exchange rate could go from retracement to a full-on reversal.

Things seem to be going better for the Australian dollar. After plunging more than 10% last year, the AUD to USD exchange rate is experiencing a nice comeback joy news. Australia posted a better-than-expected gross domestic product (GDP) report on Wednesday, which only added fuel to the fire. On the surface, everything looks great.

However, one indicator is saying that for the Aussie dollar, it won’t be just smooth sailing from here on. In fact, the AUD-USD could be running into a major resistance level.

Before we get into the details, keep in mind that the foreign exchange market is the largest financial market in the world in terms of volume investing in futures market. There are so many players, and so many forces that could affect the AUD/USD pair. Even the most seasoned traders can be humbled by the market.

Now, in case you haven’t noticed, Fibonacci retracements have worked wonders in the foreign exchange market. It is based on several key Fibonacci ratios that can be used to identify key levels of support and resistance, especially after a major move.

To be more specific, you draw a trendline between two extreme points and then divide the vertical distance by the key Fibonacci ratios. The ratios were amazingly accurate with the CAD/USD pair; this time they may just prove their value again with the Aussie dollar.

The chart below shows the downfall of the Australian dollar against the mighty greenback. Based on the swing high and the swing low, the 38.2% retracement level could become a critical resistance level weizmann forex ltd. As you can see from the chart, the AUD/USD pair has reached the 38.2% horizontal line several times, but it didn’t manage to break above it.

Note that the 38.2% retracement level corresponds to an AUD to USD exchange rate of US$0.73. Today, the Aussie dollar surged to US$0.7285. Very soon, it could be touching that resistance level again.

Of course, this doesn’t mean that the Australian dollar will stay down forever. There is still a chance that it could break above the resistance pound usd exchange rate. Whether that would happen or not also depends on fundamentals gbp usd forecast 2016. If there is more good news about Australia’s economy, and particularly about its exports sector, the AUD to USD exchange rate could go from retracement to a full-on reversal.

Dear Reader: There is no magic formula to getting rich. Success in investment vehicles with the best prospects for price appreciation can only be achieved through proper and rigorous research and analysis. We are 100% independent in that we are not affiliated with any bank or brokerage house. Information contained herein, while believed to be correct, is not guaranteed as accurate. Warning: Investing often involves high risks and you can lose a lot of money. Please do not invest with money you cannot afford to lose. The opinions in this content are just that, opinions of the authors gender spectrum. We are a publishing company and the opinions, comments, stories, reports, advertisements and articles we publish are for informational and educational purposes only; nothing herein should be considered personalized investment advice. Before you make any investment, check with your investment professional (advisor) gold manufacturing. We urge our readers to review the financial statements and prospectus of any company they are interested in. We are not responsible for any damages or losses arising from the use of any information herein. Past performance is not a guarantee of future results. All registered trademarks are the property of their respective owners.

All materials are found on open spaces of a network the Internet as freely extended and laid out exclusively in the fact-finding purposes. If you are what lawful legal owner or a product and against its placing on the given site, inform us and we will immediately remove the given material. The administration of a site does not bear responsibility for actions of the visitors breaking copyrights. abuzesite@bigmir.net

banner