HomeContributorsTechnical AnalysisTechnical Outlook: AUDUSD – Extended Hesitation At 0.8000 But Bulls Remain Intact

Technical Outlook: AUDUSD – Extended Hesitation At 0.8000 But Bulls Remain Intact

The Aussie dollar remains bid but show strong hesitation at 0.8000 resistance which was dented on Tue/Wed’s spikes to 0.8028/20 but so far without close above. In addition, long-legged Doji that was left on Wednesday supports the notion. The pair came under pressure overnight after Australian Retail Sales miss (0.0% in July vs 0.3% forecast) but dips were limited so far at 0.7974, keeping intact rising 10SMA (currently at 0.7960) which marks initial support. Daily techs are in full bullish setup and supportive for further advance, but close above 0.8000 is required to generate bullish signal for extension towards key barrier at 0.8065 (23 July new 26-month high) and extension of broader uptrend on break. On the other side, repeated failure at 0.8000 would risk extended consolidation which needs to hold above 0.7960/50 supports (10SMA/daily Tenkan-sen) and keep immediate bulls intact. Otherwise, break lower would signal recovery stall and stronger pullback which would expose daily Kijun-sen (0.7918) and daily cloud top (0.7894)

Res: 0.8028, 0.8042, 0.8065, 0.8100
Sup: 0.7974, 0.7960, 0.7950, 0.7918

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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