AUD/USD bulls seem restrained again at resistances of 0.7660

FX:AUDUSD   Australian Dollar / U.S. Dollar
124 0 9
Upside potential confined at resistance of 0.7660 – The close watch on AUD/USD's attempts of rejection at resistance at 0.7660 that may expose the pair to head back downwards which would likely to create more bearish potential again in the days to come (one can see the major supply zone in the recent past at this juncture).

However, we think if it manages to hold onto these levels on a closing basis then jump above 0.77 is also possible.

Stochastic and RSI are diverging to the previous rallies and Stochastic curves have approached the oversold zones and noising with bearish pressures but what we could perceive from this signal is that buying momentum is reduced rather than jumping the guns for fresh shorts and anytime selling signal may burst out.

The current prices have jumped above 21DMA and 7DMA, but no clear confirmation of trend reversal yet on a broader perspective as you can see current prices have been dropping in the sloping channel on monthly plotting, so long-term investors can't afford to jump into the conclusion and get bull trapped for fresh longs.

Thus, only on speculative grounds, one can think of building option tunnel spreads which are the binary version of a debit put spreads just to take the momentary bearish advantage for targets of around 40-50 pips.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out