AUD Index: Direction of next move unclear

on Jul 16, 2014
Updated: Oct 21, 2019

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This chart is rather messy and directionless, so the Aussie could see some further consolidation from here. Gold is the most remarkable thing on this chart though having sold heavily over the past couple of day, which could indicate some key players avoiding an imminent dollar rally. They seemed to have done very well indeed but we are now at support for gold so we need to decide if this expanding triangle will continue or not. AUD% index shows AUDUSD 0.9411 and 0.9330 as the resistance and support to test, but the direction of the next move is unclear. I am neutral AUD%
**AUD% Index Resistance: AUDUSD 0.9411, 0.9450**
**AUD% Index Support: AUDUSD 0.9330, 0.9300**


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