Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/USD reverses from day's highs, good to sell rallies

AUD/USD fails to hold above the 0.71 handle, upside bias seems to have lost momentum, pair trades largely unchanged at around 0.7090 levels.

  • The pair is extending declines after rejection at strong trendline resistance on Feb 4th.
     
  • Techs suggest downside for the pair, Stochs, RSI and MACD are biased lower, tests of 0.6973 likely.
     
  • Daily charts show a bearish 5-DMA crossover on the 10-DMA, which further reinforces downside.
     
  • Immediate resistance is seen at 0.7099 (10-DMA), while support on the downside is located at 0.7038 (Feb 10th lows).

Recommendation: Good to sell rallies around 0.7095, SL: 0.7175, TP: 0.7037/0.6975

 

  • Market Data
Close

Welcome to EconoTimes

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