Sasha Singh
All posts from Sasha Singh
Sasha Singh in Sasha Singh,

AUDUSD : Broke the Channel Trend

Australian dollar today weakened against US dollar edging downward from the four month high level. On the hourly chart of AUDUSD the pair started trading within a downward sloping channel and now broke the support trend line of the channel. However in Australia, industrial data showed that job advertisements rose by 1.4% in March after a 4.7% increase in February. However the disappointing U.S. employment data released on Friday still weighs on greenback. The pair found support at .9254 which was earlier acting as a resistance for the pair. Breaking below this support level might push the pair lower till .9242. And if it rises from the support level of .9254 it will find the next resistance level at .9270.