AUDUSD – fresh bulls test pivot at 0.7383; further upside likely while Kijun-sen support is holding
|Aussie dollar extends yesterday’s rally and is testing strong resistance at 0.7383 (Fibo 61.8% of 0.7523/0.7158 downleg), after fresh bulls broke above initial barrier at 0.7340 (daily Kijun-sen).
Daily studies are gaining traction and support further recovery. Break above 0.7383 barrier which is holding for now, would open next hurdle at 0.7394 (Fibo 38.2% of larger 0.7776/0.7158 descend) and 0.7424 (falling 55SMA in extension.
Look for consolidation above broken Kijun-sen line (0.7340), before bulls resume.
Conversely return below 0.7340 would weaken n/t structure and signal false break above three-day congestion.
Res: 0.7383; 0.7394; 0.7424; 0.7436
Sup: 0.7340; 0.7323; 0.7286; 0.7258
Interested in AUDUSD technicals? Check out the key levels
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.