AUD/USD, AUD/JPY 2018 Downtrend Under Fire. EUR/AUD Price at Risk

Talking Points – AUD/USD, EUR/AUD, AUD/JPY, Double Top

  • AUD/USD made upside progress, GBP/AUD declined after support breach as expected
  • EUR/AUD may be in for losses in the week ahead after a couple of bearish price signals
  • AUD/JPY AUD/USD still confined by trend-defining resistance lines, outlooks neutral

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AUD/USD Technical Outlook: Neutral

Previously, the Australian Dollar set itself up for a push higher against the US Dollar and while that may have turned out to be true this past week, more progress needs to be done in order to overturn the dominant downtrend. The Aussie Dollar also gained against the British Pound following a descent through a rising range of support from August.

AUD/USD ascended through the December/May 2016 lows on the daily chart below, clocking in its best performance in a single day since March 15th, 2017. Its attempt to push through the falling trend line from February afterwards however failed. While

Article source: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2018/11/02/AUDUSD-AUDJPY-2018-Downtrend-Under-Fire.-EURAUD-Price-at-Risk.html