Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/USD capped below major trendline resistance at 0.7470, bias higher

  • AUD/USD was rejected at major trendline resistance at 0.7470.
     
  • The pair has retraced most of the day's gains and is currently trading around 0.7431 levels.
     
  • Technical studies are still biased higher. RSI and Stochs point north while MACD shows a bullish crossover on signal line.
     
  • Downside is currently holding above 0.74 handle, close below 5-DMA at 0.7424 could see reversal upto 0.7355 levels.
     
  • On the flipside, break above trendline resistance at 0.7470 could see resumption of upside in 'Bullish Bat Pattern'.
     
  • Scope then for test of 200-DMA at 0.7542 and then 61.8% Fib at 0.7588.

Support levels - 0.7428 (23.6% Fib), 0.7425 (5-DMA), 0.7350 (trendline)

Resistance levels - 0.7470 (trendline), 0.7490 (38.2% Fib and trendline), 0.75

Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-forms-Bullish-Bat-Pattern-good-to-go-long-on-dips-700271) has hit TP1 & 2.

Recommendation: Hold for upside on break above 0.7470.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -66.5668 (Neutral), while Hourly USD Spot Index was at -68.8593 (Neutral) at 1130 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2017-09-22 21:05:48
0m

September 22 14:30 UTC Released

USECRI Weekly Annualized*

Actual

0.0 %

Forecast

Previous

0.3 %

September 22 14:30 UTC Released

USECRI Weekly Index*

Actual

143.4 %

Forecast

Previous

143.3 %

September 25 00:30 UTC 10761076m

JPNikkei Mfg PMI

Actual

Forecast

Previous

52.2 bln $

September 25 08:00 UTC 15261526m

DEIfo Business Climate*

Actual

Forecast

116.0 %

Previous

115.9 %

September 25 08:00 UTC 15261526m

DEIfo Current Conditions*

Actual

Forecast

124.8 %

Previous

124.6 %

September 25 08:00 UTC 15261526m

DEIfo Expectations*

Actual

Forecast

107.9 %

Previous

107.9 %

September 25 11:30 UTC 17361736m

TRCapacity Utilisation*

Actual

Forecast

Previous

78.8 %

September 25 11:30 UTC 17361736m

TRManufacturing Confidence*

Actual

Forecast

Previous

110.7 %

September 25 12:30 UTC 17961796m

USNational Activity Index*

Actual

Forecast

Previous

-0.01 %

September 25 13:00 UTC 18261826m

MXIGAE Econ Activity YY

Actual

Forecast

Previous

2.4 %

Close

Welcome to EconoTimes

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