Currency Pair:Aud/Usd
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7305
Trend:downtrend
Possible trading range:0.72-0.76
Signals: The aussie has been in a steady decline since August last year forming all this time a big descending channel situated on the weekly chart. On the same time frame the price seems to encounter the first support around 0.72-0.73 in the presence of a technical pattern called double bottom which dates from the 2008 financial rout.
Funda…
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