AUDUSD – firm break above 0.80 eyes 0.8102/24 targets

Slobodan Drvenica Windsor Brokers

AUDUSD

The Aussie is firmly above 0.80 handle and hit new four-month high at 0.8038 on Friday, boosted by fresh weakness of the greenback on fears of US government shutdown.
Fresh extension of larger uptrend from 0.7500 (8 Dec low) focuses 0.8102 (20 Sep spike high) and key 0.8124 barrier (8 Sep peak, the highest since May 2015).
Overbought daily studies continue to warn, but without firmer bearish signals for now.
Broken psychological 0.80 barrier now acts as support and is expected to keep the downside protected and guard higher base at 0.7940 and rising 10SMA at 0.7921.
The pair is on track for the sixth straight weekly bullish close which is seen as strong bullish signal for further advance.

Res: 0.8038; 0.8065; 0.8102; 0.8124
Sup: 0.8000; 0.7940; 0.7921; 0.7895

Interested in AUDUSD technicals? Check out the key levels

1. R3 0.809
2. R2 0.8049
3. R1 0.8023
PP 0.7982
1. S1 0.7957
2. S2 0.7916
3. S3 0.789

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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