Forex : AUD/USD Technical Analysis July 11-15, 2016

AUDUSD Forecast Analysis for July 11, 12, 13, 14, 15, 2016

4h

The 4h chart is the most interesting one on AUDUSD because of this upward channel that was established after the Brexit move. It can also be said that it’s some sort of consolidation, however, keep in mind that the slope of the channel is at a steep degree, enough to support price to surpass the pre-Brexit high at 0.7640.

So with that in mind, it’s best to trade this channel with a range trading strategy, sell at the resistance line and buy at the support trendline until price breaks out in one direction.

Forex AUDUSD Forecast analysis for July 11 - 15, 2016

AUDUSD 4h chart – Upward channel intact

Copyright © 2017. All Rights Reserved. FXDailyReport.Com