Daily Technical Analysis — Is the Auzzie gaining more ground?

AUDUSD – 0.872

Looking at the daily and minute charts for the currency AUDUSD we see a fairly common picture emerge.

AUDUSD – Minute

Is the Auzzie gaining more ground against the US Dollar?

Now let’s look at the hourly chart:

The hourly chart gives a better visual trend appearance.    Investors are encouraged to notice the support range of 0.867 – 0.870 and  resistance range of .876 – .878.    Opportunities are available to travel either way.  China forecasts are higher than expected and yet the Auzzie has been projected travelling south for a while.

Investors are also encouraged to track the USD against the EUR and follow all the reports of the economic forecasts available on our calender (Click here). Presently the EUR is bearish, daily, on the USD. This would further support the bullish trend on the Auzzie against the greenback.