Tuesday, June 24, 2014

AUDUSD could pull back towards the .9322 level near rising bull trendline support


AUDUSD pulled back off Monday’s .9447 high (Jun 23) amid bearish RSI divergence marked on the daily chart. Further weakness is expected towards .9322 (Jun 18 swing low) near 50% of the .9208/.9447 rise and 4-month rising trendline support.
Bulls need to regain .9447 to confirm a higher base and extend the uptrend from the January lows towards .9463 next.  Please see the 4-hour chart for more price action details.




daily chart

240min chart


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