We are in bearish mode on AUDUSD currency pair
Here is the forex technical analysis forex forecast for AUDUSD pair, January 5 2015. Below you will find graphical illustrations of forex analysis for AUDUSD on various time frame. We tried to graphically illustrate our forex analysis for AUDUSD so that you can logically understand the visualize of our analysis by yourselves.
AUDUSD weekly chart shows us a number of strong bull candle and still the down trend is ongoing. We are expecting that the trend will continue for at least 0.79400. 0.79400 price level is also 61.8 Fibonacci level on monthly chart.
On the monthly chart, market is going to touch the upward Fibonacci level 50.0. There is no indication for trend change. It might touch that strong support then the pair will decide whether it will bounce and start a new up trend or it will break it and we might see more down trend.
Team YellowFX is bearish on AUDUSD currency pair.We will remain bearish until market touches the price level 0.79400.