Friday, April 13, 2018
Good consolidation on the AUD/USD
On
the daily chart of the AUD/USD we can see a very good consolidation around the
200 EMA and 55 day EMA. The 0.7800 level has been acting as a resistance and a
breakout of that level could accelerate the bullish momentum to the 0.7900.
Above the 0.7900 level, its next resistance could be the 0.8000 level, followed
by the peak at the 0.8123 level where we can find the 200 month EMA. From the
current level, the AUD/USD may head in any direction, but to the downside the
0.7700 level may act as a congestion zone again. The 0.7600 level may act as a
better support, followed by the 0.7500 level.
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Seems like it will carry on the sideways movement.
ReplyDeleteThank you for sharing.
ReplyDeleteGreat article as always.
ReplyDelete