HomeContributorsTechnical AnalysisAUDUSD - Rising 20SMA Expected To Contain Corrective Pullback

AUDUSD – Rising 20SMA Expected To Contain Corrective Pullback

The Aussie dollar eased on stronger greenback today, following repeated rejection under 0.7700 barrier.

Risk of reversal is increasing as daily RSI / slow Stochastic emerge from overbought territory and generate negative signal.

Dips for now hold above initial supports at 0.7607/02 (former high / daily Tenkan-sen) but firm break lower would be a signal of correction.

Rising daily 20SMA (currently at 0.7560) should ideally contain to keep intact pivots at 0.7510 (higher base) and 0.7489 (200 SMA / Fibo 38.2% of 0.7159/0.7694 rally).

Break below the latter is needed to confirm reversal.

Res: 0.7679, 0.7694, 0.7730, 0.7776
Sup: 0.7602, 0.7560, 0.7510, 0.7489

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