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AUD/USD Narrow Range Possibly Targeting Weekly Support

By:

Nenad Kerkez

Updated: Jul 10, 2017, 09:39 GMT+00:00

AUD/USD has been moving in a very narrow range. The ATR for last 14 days is 48 pips and it suggest slow moving price. If the price managed to stay below

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AUD/USD has been moving in a very narrow range. The ATR for last 14 days is 48 pips and it suggest slow moving price. If the price managed to stay below 0.7645 that is the ATR projected high and W H3 camarilla, bears would have an upper hand. At this point we might see a rejection from the POC 0.7600-15 ( D H3, 38.2, inner trend line, ATR pivot) towards 0.7570 and eventually 0.7550.

AUD/USD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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