|   Technicals


  |   Technicals


FxWirePro: AUD/USD extends gains for the 4th straight session, outlook bullish above 21-EMA

Chart - Courtesy Trading View 

Technical Analysis:

GMMA Indicator

- Major and minor trend has turned bullish on the hourly charts

- Minor trend is showing initial signs of bullishness

Ichimoku Analysis

- Price action is below the daily and weekly cloud


- Stochs and RSI show a bullish rollover from oversold levels

Bollinger Bands

- Bollinger bands show high volatility and scope for more upside

Major Support Levels: 0.7105 (nearly converged 5-DMA and 200H MA), 0.7051 (38.2% Fib)

Major Resistance Levels: 0.7185 (200-week MA), 0.72

Summary: AUD/USD recovery finds stiff resistance at 0.7185. Watch out for decisive break above for further gains. Major trend is still bearish. Bullish continuation only above daily cloud and 200-DMA. 

  • Market Data

Welcome to EconoTimes

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