AUD/USD Weekly Update (30/1/16)
I am Slightly Bullish Only
Bulls should look out for 0.70 level for a support, this is where the trench is.
If it is broken strongly, not a good news for Long positions. But if it hold 0.7206 level should be easily achievable.
And AUD is not in the good time to raise rate with current commodity depression.
Level to watch: Support 0.7206, 0.7250, and Resistance level 0.70082 and 0.6930
Bulls should look out for 0.70 level for a support, this is where the trench is.
If it is broken strongly, not a good news for Long positions. But if it hold 0.7206 level should be easily achievable.
And AUD is not in the good time to raise rate with current commodity depression.
Level to watch: Support 0.7206, 0.7250, and Resistance level 0.70082 and 0.6930
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