AUDUSD - fresh strength heads towards 0.7649 pivot, top of n/t congestion

Slobodan Drvenica Windsor Brokers

AUDUSD

The pair rallies towards the top of near-term congestion at 0.7649, after building a base at 0.7585 zone (low of sharp two-day fall from 0.7732 peak). Monday’s long-legged Doji signaled indecision, with fresh bulls looking for a probe above 0.7649 pivot to signal higher low at 0.7585 and open way for further retracement of 0.7732/0.7585 fall. Daily close above 0.7649 will confirm fresh n/t bulls.
Next barriers lay at 0.7659 and 0.7676 (the latter marks Fibo 61.8% of 0.7732/0.7585 fall) and sustained break to confirm reversal.

Res: 0.7649; 0.7659; 0.7675; 0.7697
Sup: 0.7620; 0.7600; 0.7585; 0.7558

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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