Slobodan Drvenica
Windsor Brokers
AUD/USD
The Australian dollar remains in green on Tuesday following strong rally in past three days and eyes 4 ½ week high at 0.6938 (13 Dec), as optimism on US/China trade deal keeps the Aussie inflated.
Monday’s 0.42% daily advance resulted in break and close well above 200DMA (0.6902) and generated bullish signal.
Violation of pivotal barriers at 0.6931/38 (Fibo 38.2% of 0.7393/0.6645 / 13 Dec spike high) would open psychological 0.7000 barrier (also weekly cloud base).
Sideways-moving daily momentum / RSI and overbought stochastic suggest that bulls may take a breather before final push higher, with holiday-thinned markets also expected to contribute.
Broken 200DMA is expected to keep the downside protected and guard trendline support (0.6874).
Res: 0.6931; 0.6938; 0.6959; 0.7000
Sup: 0.6912; 0.6902; 0.6886; 0.6974
Interested in AUD/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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