Technical analysis for the AUDUSD on 25.11.2015


The AUDUSD broke strong resistance at 0.7250


Bulls broke and held above the last week’s high of 0.7250 resistance yesterday. The breakout took place amid low volumes, although from the technical point there are all chances of further growth.

The AUD keeps trading within the ascending channel on the intraday chart. As long as the channel remains intact, strong upside potential preserves.

The closest growth target is situated at another tough resistance – 0.7280. The breakout of this barrier will allow bulls to continue their ascension towards 0.7300, 0.7380.

Alternative scenario:

The uptrend will turn down for correction if price breaks the lower border of the ascending channel at 0.7235. Potential correction targets are: 0.7225, 0.7200, 0.7155.


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Hello, my name is Artem. If you ask me “Why have you chosen Forex?”, I would quote a legendary bestseller “Trading for a Living” written by Alexander Elder – the greatest trader of all time: “You can be free. Live and work in any corner of the globe. You can set aside everyday troubles and be free from all bosses. This is the life of a successful trader”(a small step aside.) Now I will tell you a few words about myself: I have a two-year experience of Forex trading. I also have a trading certificate confirming that I have passed a course called “Theory and practice of international financial markets” held by a private consulting company. Currently, I’m trading in a foreign exchange market and reading books written by successful world traders. I believe only in technical analysis, as it is based on crowd psychology, while the crowd behavior is primitive.