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AUDJPY: Bearish Outlook Despite Short-Term Bullish Signals, Sell Rallies Near 110.78 
Major Currency Pair Scores: USD/CHF Signals Strong Bullish Momentum as NZD/USD Turns Heavily Bearish 
NZDJPY: Bearish Trend Favors Selling on Rallies Above 90.18 
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FxWirePro: AUD/USD stays defensive ahead of key U.S. inflation data 
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HIGHUSD surged more than 15% today after a massive sell-off from high of $9.31. The pair surged more than 100% from a minor bottom $0.344 in past two weeks. It hits an high of $0.77 at the time of writing and is currently trading around $0.639.
Overall bias remains bullish as long as support $0.30 holds. It trades above the 34 and 55 EMA on the 4-hour chart. Near-term support is around $0.58 , any breach below targets $0.48/$0.40. If the pair closes below $0.20, potentially leading to further declines towards $0.15/$0.10.
Immediate Resistance is at $0.80. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $1.05/$1.15/$1.38/$1.65.
Indicators (4-Hour Chart)
- Directional Movement Index: Bullish
- CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $0.55 with a stop-loss set at $0.40 and a target price of $0.635.
