The
Australian Dollar versus the US Dollar breaks above the 200 day exponential
moving average, around the 0.7261 level and it is possible for the pair to keep
its bullish trend, due to the fact that the stochastics still have a long way
before entering the overbought territory. Be attentive to a possible formation
of the Breakout-and-pullback pattern around the 200 EMA. The 0.7500 level could
act as resistance and below the 200 day EMA, the 0.7103 level could act as support.
Looks like it will keep pushing higher.
ReplyDeleteIt's currently testing the resistance at 0.7370, if it breaks above that level the move to the upside will probably continue.
ReplyDeleteUpside movement continues.
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteThat was great analysis, thank you.
ReplyDeleteGreat post.
ReplyDeleteGood to know!
ReplyDeleteGood post!
ReplyDelete