AUDUSD Triggers Price Rally, Eyes More Strength

Mohammed Isah FXTechstrategy

AUDUSD triggers price rally and now eyes next resistance at 0.7200 level. On the upside, another resistance lies at the 1.7250 level. A cut through here will turn attention to the 0.7300 level and then the 0.7350 level. Break above here will open the door for a move towards the 0.7400 level. Its daily RSI is bullish and pointing higher suggesting further strength. Support resides at the 0.7100 level where a breach will aim at the 0.7050 level. Below here will set the stage for a run at the 0.7000 level with a cut through here targeting further downside pressure towards the 0.6950 level. On the whole, AUDUSD faces further upside threats with eyes on key resistance.

Interested in AUDUSD technicals? Check out the key levels

1. R3 0.714
2. R2 0.7124
3. R1 0.7099
PP 0.7083
1. S1 0.7058
2. S2 0.7042
3. S3 0.7017

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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