HomeContributorsTechnical AnalysisAUDUSD – Fresh Gains Pressure Upper Range Boundary For Final Break Higher

AUDUSD – Fresh Gains Pressure Upper Range Boundary For Final Break Higher

The Aussie regained traction and tested 0.7600 barrier on yesterday’s bullish acceleration.

Repeated downside rejections above key 200SMA support and subsequent bounce sidelined immediate downside risk.

However, the pair remains without clear direction while holding within 0.7510/0.7690 range.

Near-term studies improved and along with bullish daily technicals, turned near-term focus higher.

Firm break above 0.7600 zone is needed to signal bullish continuation and open immediate target at 0.7630 (Fibo 76.4% of 0.7776/0.7158 descend).

Long bullish monthly candle that was formed in January, supports bullish scenario, with freshly formed 20/200SMA’s Golden Cross, underpinning the action.

Res: 0.7607, 0.7630, 0.7700, 0.7776
Sup: 0.7558, 0.7510, 0.7497, 0.7467

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.

Featured Analysis

Learn Forex Trading