HomeContributorsTechnical AnalysisAUDUSD – Near-Term Outlook Is Positive But Firm Break Above 0.7700/30 Pivots...

AUDUSD – Near-Term Outlook Is Positive But Firm Break Above 0.7700/30 Pivots Needed To Confirm Bullish Continuation

Yesterday’s fresh attempt above 0.7700 barrier was positive signal, as price continues to hold at the upper side of 0.7600/0.7700 congestion.

Overnight’s dip on weaker than expected Australian data was so far contained, with 0.7700 pivot being attacked again on bounce.

Bullishly aligned near-term studies are supportive, along with daily MA’s in firm bullish setup.

Rising daily 10SMA offers immediate support at 0.7678, followed by 20SMA that underpins the action and currently lies at 0.7645.

Caution on break of latter, as RSI / slow stochastic bearish divergence continues to weigh.

Stronger signal of pullback seen on break below 0.7600 handle that would risk fresh easing towards 200SMA (0.7509).

Sustained break above 0.7700 barrier and fresh high at 0.7730 (16 Feb high), to signal bullish continuation and expose key short-term barrier at 0.7776 (08 Nov peak).

Res: 0.7712, 0.7730, 0.7755, 0.7776
Sup: 0.7663, 0.7645, 0.7600, 0.7504

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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