AutoChartist Forex-Bericht (Eur) 15.10.2018
Bull case
The AUDUSD pair has entered in its minor support zone on a daily time frame. The price has pierced the Bollinger band and the volatility for the pair remains high as the price is trading well below its 20 day moving average. The piercing of a Bollinger band has an importance at an important level of support/resistance, and the AUDUSD pair is at a minor level of support which could push the price back towards its mean. The RSI is trading in an extreme oversold zone which could also be considered as an odd enhancer for a bull case.
Bear Case
The price is trading well below its downward trend line and it is also trading below its 50 day (shown in green) and 100 day (shown in yellow) moving averages. This suggests that there is strong weakness in the price.
Important Zones
0.9483-0.9388 Major
0.9649-0.9580 Major
0.9865-0.9816 Minor
Resistance Zone
1.0251-1.0212 Minor
1.0386-1.0352 Major
1.0631-1.0568 Major
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