HomeContributorsTechnical AnalysisAUDUSD Remains Directionless Above Key 200SMA Support

AUDUSD Remains Directionless Above Key 200SMA Support

Near-term price action continues to trade above key supports at 0.7493/88 (100 / 200SMA’s) following upside rejection at 0.7607 and subsequent easing that was contained at 0.7510.

Setup of daily studies remains bullish and is supportive for fresh attempts higher, however, weekly long-legged Doji that signaled strong indecision, requires caution.

Prolonged sideways mode could be expected while the price is holding within the range, with downside risk to remain in play.

Firm break below 200SMA would trigger stronger bearish acceleration and expose next supports at 0.7463 (rising 20SMA) and 0.7437 (Fibo 38.2% of 0.7163/0.7607 ascend).

Conversely, sustained break above 0.7600 zone would open initial target at 0.7630 ( Fibo 76.4% of 0.7776/0.7158 descend) and confirm resumption of recovery rally from 0.7160 zone.

Res: 0.7559, 0.7583, 0.7607, 0.7630
Sup: 0.7539, 0.7488, 0.7463, 0.7437

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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