|   Technicals


  |   Technicals


FxWirePro: AUD/USD fades early gains amid US dollar rebound

AUD/USD chart - Trading View 

Technical Analysis: Bias Bullish

GMMA Indicator

- Major trend is turning bullish, while minor trend is strongly bullish

Ichimoku Analysis

- Price action is above daily cloud, but Chikou span is biased lower 


- Stochs and RSI show bullish momentum

- Overbought conditions warrant some caution

Bollinger Bands

- Bollinger bands are spread wide apart showing high volatility

Major Support Levels: 0.7459 (5-DMA), 0.7411 (110-EMA), 0.7369 (21-EMA)

Major Resistance Levels: 0.7562 (200-DMA), 0.76, 0.7662 (61.8% Fib)

Summary: AUD/USD trades with a strong bullish momentum. Price action has approached crucial resistance at 200-DMA at 0.7562. Decisive break above required for upside continuation.

Overbought oscillators warrant some caution. However, major trend is bullish and pullbacks are likely to be shallow. Bullish invalidation only below daily cloud.

  • Market Data

Welcome to EconoTimes

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