AUDUSD Three Inside Down 4-Hour Chart

Resistance: 1.0366 strong/1.0395 moderate/1.0422 minor Support: 1.0339 moderate/1.0311 minor/1.0284 minor Three Inside Down is just under the pivot point at 1.0366 in 4-Hour AUDUSD charts. With a combination of a high level bearish pattern and a strong resistance consider shorting at market the immediate objective at 1.0339 break of which should see us move to 1.0311. Stop loss should be placed above 1.0366. Learn more about the chart patterns and how to recognize them in our Learning

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AUDUSD Three Inside Down 4-Hour Chart

Positive surprises from China and the US

Review: Positive surprises from China and the US China’s PMI came to 50.4 against the expected level of 49.5. Not only was this a positive surprise, the figure was also above 50, which is the first time in 13 months. PMI in the US came to 52.4, against the expected 51. Hence appetite for investment increased once again. Fitch downgraded its credit rating of Cyprus from BB+ to BB- with negative outlook. There was widespread agreement among the Bank of England members to postpone further QE.

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Positive surprises from China and the US