AUDUSD – bulls probe again into daily cloud; US inflation data in focus
|The Aussie remains firm on Friday and extends the succession of higher highs and higher lows this week.
The pair holds in green for the fourth consecutive day and probes again into daily cloud, following repeated failure to close above the base of rising daily cloud (currently at 0.7818).
Today’s fresh advance emerged above falling 4-hr cloud and generated bullish signal for extension towards key near-term barriers at 0.7865/74 (20SMA / Fibo 38.2% of 0.8102/0.7732 / 04 Oct high).
Eventual close above cloud base will be bullish signal while sustained break above 0.7874 would spark further retracement of 0.8102/0.7732 fall.
Key supports at 0.7800 zone (converged 10/100SMA’s / daily Tenkan-sen) are expected to contain and keep the downside protected.
US data are in focus today and near-term bias is expected to be determined by the outcome.
Res: 0.7845; 0.7874; 0.7917; 0.7929
Sup: 0.7814; 0.7803; 0.7782; 0.7748
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.