Tue, Sep 27, 2022 @ 04:23 GMT
HomeContributorsTechnical AnalysisTechnical Outlook: AUDUSD – Reversal Signal Is Forming On Daily Chart

Technical Outlook: AUDUSD – Reversal Signal Is Forming On Daily Chart

The Aussie dollar is in red on Monday as reversal signal is forming following strong upside rejection at over three-month high at 0.7712 on Friday.

Bearish signals are also coming from daily RSI / slow stochastic, which reversed from overbought territory.

Fresh weakness penetrated into thick hourly cloud and pressuring pivotal support at 0.7645 (hourly cloud base / Fibo 38.2% of 0.7353/0.7712), loss of which could trigger deeper pullback towards 0.7623 (daily Tenkan-sen) and 0.7605 (Fibo 61.8% / 10SMA), where correction should find support to keep larger bulls intact.

Today’s close in red is needed to confirm scenario

Res: 0.7678, 0.7697, 0.7712, 0.7734
Sup: 0.7650, 0.7623, 0.7605, 0.7582

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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