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Technical Outlook: AUDUSD – Recovery Shows Strong Signs Of Stall At 20 SMA Barrier

Recovery rally from near-term base that is forming at 0.7500 is shows signs of losing traction after being repeatedly capped by 20SMA (0.7575).

Overall bearish structure warns of recovery rally stall, as solid offers at 0.7575/0.7600 zone (20SMA / 30SMA) maintain pressure.

Repeated close below 20SMA would be an additional bearish signal for fresh weakness and retest of key near-term support at 0.7500, with sustained break here to signal bearish continuation towards another strong support at 0.7482 (bull-trendline off 0.6826, 20 Jan 2016 low).

Conversely, firm break above 0.7600 resistance zone would signal extended recovery and expose key near-term barrier at 0.7653 (05 Dec high).

Res: 0.7574, 0.7600, 0.7633, 0.7653
Sup: 0.7552, 0.7518, 0.7500, 0.7482

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

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