wrapper

AUD/USD bears drove the market to a new 2018 low this Monday at 0.7310. The bear trend is strong and resistance to the upside are seen near the 0.7323 former 2018 low and 0.7345 congestion zone. To the downside bears will likely target the 0.7300 figure and the 0.7246 December 25, 2016 high. After this decline, buying is not an option at the moment.

We expect some amount of support around 0.7280 and 0.7250 level in the course of tomorrow’s session and resistance near 0.74 handle. Focus will of course be on RBA interest rate decision. On a long-term basis, if we see break below 0.2 handle we would be sellers for this pair.

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.