Forex Technical Analysis of AUDUSD for September 28, 2015

Support                            -   S1 : 0.6987 | S2 : 0.6950 | S3 : 0.6923

Resistance                        -   R1 : 0.7051 | R2 : 0.7079 | R3 : 0.7116

Main Trend                     -   Bearish

Intraday Trend               -   Bearish

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

4H Chart

The area 0.6998  – 0.7023   is a neutral zone.

Bullish scenario : If price moves upwards and close above the neutral zone, then the upward trading targets will be : 0.7050, 0.7075, 0.7100, 0.7135, 0.7150.

Bearish scenario : If price moves downwards and close below the neutral zone, then the downward trading targets will be : 0.6965, 0.6937, 0.6900, 0.6850, 0.6770.

1H Chart

The area 0.7013 – 0.7025  is a neutral zone.

Bullish scenario : If price moves upwards and close above the neutral zone, then the upward trading targets will be : 0.7040, 0.7070, 0.7100, 0.7150.

Bearish scenario : If price moves downwards and close below the neutral zone, then the downward trading targets will be : 0.6990, 0.6965, 0.6937, 0.6900, 0.6870, 0.6850.

Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy . We note the need to use stop loss levels.

You agree with our estimates? If you have another point of view, you can write your opinion in comments.

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