Technical analysis of the currency pair AUD/USD on 13/10/2016. The daily chart
General analysis.
Yesterday's trading session was closed for the AUD / USD with increase of 25 points and close at 0.7560. In the first half of the day bulls immediately captured the initiative and the price even reached the level of 0.7590 but then after the opening of the US session, the price began to decline down to 0.7560.
At the moment, we can see a continued decline of the price and its approach to the lower border of the price channel 0.7440 - 0.7710. This price channel was formed a few months ago and since then the price moves in good faith in its framework. Given this fact, and taking into account the overall picture of the growth of the US dollar, we can confidently expect testing the lower border of the price channel.
Further necessary to be guided by the overall situation on a market. Perhaps we will see a breakdown of the level and falling to 0.7280 but also there is a possibility of rebound from the level and the continuation of the movement within the channel.
The RSI is in the neutral zone and does not provide any essential signals.
The MACD shows movement below the zero line and continues to fall, confirming the presence of the downtrend on the chart.
Next few days
