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HomeContributorsTechnical AnalysisAUDUSD Outlook: Corrective Dips To Precede Fresh Upside, 10SMA Expected To Contain

AUDUSD Outlook: Corrective Dips To Precede Fresh Upside, 10SMA Expected To Contain

Windsor Brokers Ltd
By Windsor Brokers Ltd

The Aussie dollar holds in red on Wednesday, easing from recovery top at 0.7383, as risk aversion on the newest political turmoil in the US and overbought condition weigh on near-term bulls. Corrective dips may extend as slow stochastic is reversing in overbought territory and signaling correction, with broken 10SMA (0.7303) expected to contain extended dips and keep near-term bulls in play for push towards next target at 0.7400 (55SMA).

Res: 0.7368, 0.7381, 0.7400, 0.7453
Sup: 0.7333, 0.7303, 0.7252, 0.7202

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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