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AUD Trading Outlook (11-08-2015)

Medium Term Strategy: Forex Pair of the day
AUD/USD – under pressure
The pair stands below the strong resistance at 0.7805. In addition, the 20 and 50-days moving averages crossed downward and the RSI stands below its neutrality area. As a consequence, further weakness is expected with a first target at 0.7255 (horizontal support and previous overlap) and a second one set at 0.6980 (horizontal support). A third target is set at 0.6865. Only a break above the strong horizontal resistance at 0.7805 would turn the outlook to bullish and favour a recovery towards 0.8165 (May top) at first and towards January top at 0.83 in extension.

Intraday Technical Strategy
AUD/USD Intraday: further upside.
Pivot 0.7380
Our preference Long positions above 0.738 with targets @ 0.743 & 0.745 in extension.
Alternative scenario Below 0.738 look for further downside with 0.735 & 0.7315 as targets.
Comment The RSI is well directed.
Back to AUD Trading Outlook Archive

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