AUDUSD – full retracement of 0.7739/0.7489 pullback signals further upside

Slobodan Drvenica Windsor Brokers

AUDUSD

The pair eventually cracked key barrier at 0.7739 (23 Feb high) on fresh acceleration higher today, after bulls paused on Thu/Fri, following strong post-Fed bullish acceleration.

Full retracement of 0.7739/0.7489 pullback signals that bulls from 0.7489 trough could extend towards next strong barrier at 0.7758/76 (highs of Aug / Nov 2016), where strong upside rejection occurred.

Hesitation at 0.7739 barrier could be anticipated on overbought slow stochastic, with dips to ideally hold above 0.7650/40 zone (base of thick hourly cloud, spanned between 0.7647 and 0.7678).

Res: 0.7745; 0.7758; 0.7776; 0.7800
Sup: 0.7695; 0.7661; 0.7647; 0.7629

Interested in AUDUSD technicals? Check out the key levels

1. R3 0.7734
2. R2 0.7722
3. R1 0.7714
PP 0.7702
1. S1 0.7694
2. S2 0.7682
3. S3 0.7674

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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