AUD/USD: technical analysis
AUD/USD: technical analysis
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.7104 |
| Take Profit | 0.7000, 0.6970 |
| Stop Loss | 0.7150 |
| Key Levels | 0.6915, 0.6970, 0.7000, 0.7165, 0.7200, 0.7290 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7200 |
| Take Profit | 0.7290 |
| Stop Loss | 0.7165 |
| Key Levels | 0.6915, 0.6970, 0.7000, 0.7165, 0.7200, 0.7290 |
AUD/USD, H4
On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains on the level with its moving averages that are horizontal. The RSI is testing from below its longer MA. The Composite is approaching its strong support.
AUD/USD, D1
On the daily chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains just below its moving averages that are directed down. The RSI keeps testing from above its longer MA. The Composite is showing similar dynamics.
Key levels
Support levels: 0.7000 (local lows), 0.6970 (February 2016 lows), 0.6915 (September 2015 lows).
Resistance levels: 0.7165 (local highs), 0.7200 (local highs), 0.7290 (January highs).
Trading tips
The price is testing its descending trendline. There is a chance of a downward reverse.
Short positions can be opened from current prices with targets at 0.7000, 0.6970 and stop-loss at 0.7150. Validity – 3-5 days.
Long positions can be opened from the level of 0.7200 with the target at 0.7290 and stop-loss at 0.7165. Validity – 3-5 days.
On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains on the level with its moving averages that are horizontal. The RSI is testing from below its longer MA. The Composite is approaching its strong support.
AUD/USD, D1
On the daily chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains just below its moving averages that are directed down. The RSI keeps testing from above its longer MA. The Composite is showing similar dynamics.
Key levels
Support levels: 0.7000 (local lows), 0.6970 (February 2016 lows), 0.6915 (September 2015 lows).
Resistance levels: 0.7165 (local highs), 0.7200 (local highs), 0.7290 (January highs).
Trading tips
The price is testing its descending trendline. There is a chance of a downward reverse.
Short positions can be opened from current prices with targets at 0.7000, 0.6970 and stop-loss at 0.7150. Validity – 3-5 days.
Long positions can be opened from the level of 0.7200 with the target at 0.7290 and stop-loss at 0.7165. Validity – 3-5 days.
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