AUD/USD rally off 2015 low intact but more pullback likely
Friday, May 15, 2015 12:43 PM UTC
- AUD/USD sets new high May 14 but closes down & RSI diverges, down again today
- Rally off 2015 low intact but more pullback likely, day RSI needs to unwind
- 0.7950/70 (5/13 low, 10-DMA) initial support then 0.7860/0.7910 zone
- Lows May 7-12, 21-DMA, Trend-Line off 4/14 low reside there
- Sub-0.7785/90 likely means rally done and return to April low due
- Long-Term chart still leans bullish, momentum with bulls & spreads at wides
- 200DMA & Jan high test still possible