AUD/USD eyes 200-DMA at 0.7540, stay long
AUD/USD has broken above major trendline resistance at 0.7465, intraday bias higher.
The pair has paused upside at 0.75 handle, break above will see resumption of upside.
The pair is extending upside in continuation of the 'Bullish Bat Pattern'.
We see scope for test of 200-DMA at 0.7540. Violation there could see further upside.
Technical studies are still biased higher. RSI and Stochs point north while MACD shows a bullish crossover on signal line.
Support levels - 0.7454 (5-DMA), 0.7434 (20-DMA), 0.7428 (23.6% Fibo 0.7749 to 0.7329 fall), 0.7355 (trendline)
Resistance levels - 0.75 (psychological level), 0.7540 (200-DMA), 0.7588 (61.8% Fib)
Good to go long on dips around 0.7480/90, SL: 0.7430, TP: 0.7540/ 0.7580
The pair has paused upside at 0.75 handle, break above will see resumption of upside.
The pair is extending upside in continuation of the 'Bullish Bat Pattern'.
We see scope for test of 200-DMA at 0.7540. Violation there could see further upside.
Technical studies are still biased higher. RSI and Stochs point north while MACD shows a bullish crossover on signal line.
Support levels - 0.7454 (5-DMA), 0.7434 (20-DMA), 0.7428 (23.6% Fibo 0.7749 to 0.7329 fall), 0.7355 (trendline)
Resistance levels - 0.75 (psychological level), 0.7540 (200-DMA), 0.7588 (61.8% Fib)
Good to go long on dips around 0.7480/90, SL: 0.7430, TP: 0.7540/ 0.7580
