Technical Analysis – AUDUSD pauses downtrend
Posted on December 11, 2014 at 8:14 am GMTAUDUSD paused its decline and bounced from 0.8223 – a 4-year low – to 0.8374 by early Thursday. The doji candlestick formation on Tuesday represents indecision in the market and signals a potential rebound and a stall in the downtrend. This pause in the decline is also suggested by the RSI which is pointing back up and also the kijun-sen line is flattening out. A correction higher would test the key level at 0.8500. However the underlying trend remains bearish [..]