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April 19th, 2014 @ 4:00 pm by The Geek

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Good day forex traders and readers.

In the previous AUD/USD forecast we noted that the currency pair was bullish for the week. It did attempt to break the resistance of 0.9450 but failed.The immediate resistance was likely to be 0.9450 followed by an extended bullish target of 0.96. Should bearish pressure return, the immediate support was likely to be 0.9280. After which we might expect a possible drop to 0.9150 followed by 0.9050.

20140419-112700.jpg

Technical Analysis

Looking at the AUD/USD weekly chart above we note that the currency pair was bearish for the week having failed to breach the resistance of 0.9450.

While the currency pair remains in the long term bullish channel, we must be careful of short term volatility.

Should bullish momentum pick up again, 0.9450 remains the immediate strong resistance to be conquered. Only after clearing it can we consider 0.96.

As for any bearish pressure that may continue, 0.9280 stands ready as a possible support. 0.9150 and 0.9050 remain as extended supports for us to keep in mind for our trading plans.

Don’t miss the fundamental analysis
continue on to TheGeekKnows.com for the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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April 17th, 2014 @ 3:59 am by Setyo Wibowo

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EURUSD Forecast        

The EURUSD attempted to push higher yesterday but still unable to make a clear break above 1.3850 so far. The bias is neutral in nearest term probably with a little bullish bias especially if price able to make a clear break above 1.3850 testing 1.3900 before challenging 1.4000. Immediate support is seen around 1.3800 – 1.3780. A clear break below that area could trigger further bearish pressure testing 1.3750 or lower. Overall I still prefer a bullish scenario at this phase.

eurusddaily

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April 17th, 2014 @ 3:52 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD had a bullish momentum yesterday and hit 1.6836 earlier today. The bias is bullish in nearest term testing 1.6900. Immediate support is seen around 1.6780. A clear break below that area could lead price to neutral zone in nearest term testing 1.6750/00 but overall I still prefer a bullish scenario at this phase.

gbpusddaily

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April 17th, 2014 @ 3:49 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY had a bullish momentum yesterday topped at 102.35 but traded lower earlier today hit 101.85. The bias is neutral in nearest term probably with a little bearish bias testing 101.50/30 support area. On the upside, a clear break above 102.35 could trigger further bullish pressure testing 103.00. As long as stays above the trend line support, my overal technical outlook remains bullish.

usdjpydaily

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April 17th, 2014 @ 3:46 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF had another indecisive movement yesterday. The bias remains neutral in nearest term probably with a little bearish bias testing 0.8780 – 0.8740 support area. Immediate resistance remains around 0.8815. A clear break above that area could trigger further bullish pressure testing 0.8850/70. Overall I prefer a bearish scenario at this phase.

usdchfhourly

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April 16th, 2014 @ 3:47 am by Setyo Wibowo

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EURUSD Forecast        

The EURUSD was indecisive yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term probably with a little bearish bias testing 1.3750 or lower. Overall I still prefer a bullish scenario at this phase but need a clear break above 1.3850 – 1.3900 to keep the bullish scenario remains strong testing 1.4000. Key/Major support is seen around 1.3600.

eurusddaily

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April 16th, 2014 @ 3:45 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD attempted to push lower yesterday bottomed at 1.6655 but closed higher at 1.6723. The bias is neutral in nearest term. Immediate resistance is seen around 1.6750. A clear break above that area could trigger further bullish pressure testing 1.6820 key resistance area. Immediate support is seen around 1.6700. A clear break back below that area could trigger further bearish pressure testing 1.6650/25.

gbpusddaily

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April 16th, 2014 @ 3:40 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY had a bullish momentum earlier today hit 102.25. The bias is bullish in nearest term testing 102.50 – 103.00. Immediate support is seen around 101.80. A clear break below that area could lead price to neutral zone in nearest term testing 101.50 or lower. As long as stays above the trend line support, my overal technical outlook remains bullish.

usdjpydaily

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