AUD/USD: technical analysis
29 January 2019, 12:06
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 0.7225 |
| Take Profit | 0.7315, 0.7375 |
| Stop Loss | 0.7175 |
| Key Levels | 0.6920, 0.7000, 0.7075, 0.7225, 0.7315, 0.7375 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.7075 |
| Take Profit | 0.7000 |
| Stop Loss | 0.7115 |
| Key Levels | 0.6920, 0.7000, 0.7075, 0.7225, 0.7315, 0.7375 |
AUD/USD, D1
On the daily chart, the pair is trading in the upper Bollinger band. The price remains slightly below its moving averages that are turning horizontally. The RSI is growing, having broken out its longer MA. The Composite is showing similar dynamics.
AUD/USD, H4
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains just above its moving averages that are directed horizontally. The RSI is about to test from above its longer MA. The Composite is falling, having broken down its longer MA.
Key levels
Support levels: 0.7075 (local lows), 0.7000 (local lows), 0.6920 (September 2015 lows).
Resistance levels: 0.7225 (local highs), 0.7315 (September 2018 highs), 0.7375 (local highs).
Trading tips
The growth could continue.
Long positions can be opened from the level of 0.7225 with targets at 0.7315, 0.7375 and stop-loss at 0.7175. Validity – 3-5 days.
Short positions can be opened from the level of 0.7075 with the target at 0.7000 and stop-loss at 0.7115. Validity – 3-5 days.
On the daily chart, the pair is trading in the upper Bollinger band. The price remains slightly below its moving averages that are turning horizontally. The RSI is growing, having broken out its longer MA. The Composite is showing similar dynamics.
AUD/USD, H4
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains just above its moving averages that are directed horizontally. The RSI is about to test from above its longer MA. The Composite is falling, having broken down its longer MA.
Key levels
Support levels: 0.7075 (local lows), 0.7000 (local lows), 0.6920 (September 2015 lows).
Resistance levels: 0.7225 (local highs), 0.7315 (September 2018 highs), 0.7375 (local highs).
Trading tips
The growth could continue.
Long positions can be opened from the level of 0.7225 with targets at 0.7315, 0.7375 and stop-loss at 0.7175. Validity – 3-5 days.
Short positions can be opened from the level of 0.7075 with the target at 0.7000 and stop-loss at 0.7115. Validity – 3-5 days.
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