AUDUSD – data-inspired rally cracks 20SMA but without clear break so far

Slobodan Drvenica Windsor Brokers

AUDUSD

The Aussie dollar rose to 0.7547 on Thursday, driven by solid Australian jobs data and extending strong rally on Wednesday which left a higher base at 0.7447 (Tue/Wed lows).
Strengthening momentum and 5/10SMA bull-cross are supportive for recovery attempts which cracked falling 20SMA (0.7534) in today’s extension.
Close above 20SMA is needed to boost bulls for eventual attack at key near-term barrier at 0.7565 (Tue/Wed highs / Fibo 38.2% of 0.7812/0.7412), as break here is required to confirm base and open way for stronger recovery.
Failure to clear 20SMA would signal further range trading and keep the downside at risk as larger picture is bearish.

Res: 0.7534; 0.7547; 0.7565; 0.7584
Sup: 0.7507; 0.7478; 0.7447; 0.7412

Interested in AUDUSD technicals? Check out the key levels

1. R3 0.7622
2. R2 0.7573
3. R1 0.7545
PP 0.7496
1. S1 0.7468
2. S2 0.7419
3. S3 0.7392

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

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