The Australian Dollar is moving up and down with the mood of stock markets and trade wars but is not going anywhere fast. Here is their view, courtesy of eFXdata: NAB discusses AUD/USD technical outlook and notes that the recent 5 consecutive weekly closes within a 40 pip range confirm that 0.7310/30 support has some significance. “The lack of a material reversal implies that 0.7500/50 will continue to cap a short squeeze… Next major support where the May 2017 low coincides with the 61.8% retracement of the 2016/2018 uptrend and 2-3 year parallel uptrend channel at 0.7310/30. A monthly close below 0.7310/30 will imply a full retracement of the 2016/2018 uptrend to 0.6800/50,” NAB argues. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Daily Look share Read Next GBP/USD Technical Analysis: Cable bear trend resumes as GBP/USD trades below 1.3150 FX Street 5 years The Australian Dollar is moving up and down with the mood of stock markets and trade wars but is not going anywhere fast. Here is their view, courtesy of eFXdata: NAB discusses AUD/USD technical outlook and notes that the recent 5 consecutive weekly closes within a 40 pip range confirm that 0.7310/30 support has some significance. "The lack of a material reversal implies that 0.7500/50 will continue to cap a short squeeze... Next major support where the May 2017 low coincides with the 61.8% retracement of the 2016/2018 uptrend and 2-3 year parallel uptrend channel at 0.7310/30. A monthly close… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
