Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/USD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

- AUD/USD was trading 0.33% lower on the day at 0.7111 at around 11:40 GMT.

- The pair was rejected at 21-EMA and daily cloud resistance, break above required for further upside

- Spinning top formation at cloud resistance raises scope for further downside

- GMMA indicator shows major and minor trend are bearish

- Momentum studies are bearish, Stochs and RSI are biased lower, RSI is below 50 mark

Support levels - 0.7098 (200H MA), 0.7086 (5-DMA), 0.7016 (Lower BB)

Resistance levels - 0.7144 (21-EMA), 0.7160 (20-DMA), 0.7190 (55-EMA)

Summary: AUD/USD rejection at 21-EMA and daily cloud has raised scope for weakness. Diminishing odds for a 50 bps Fed rate hike in March is likely to keep downside limited. Focus now on release of the ISM Services PMI for impetus. 
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.