AUDUSD: Traced out a near-term top at 0.7630
Since the daily RSI has pointing South and the oscillator has shifted to a bearish crossover, weakness is anticipated to 0.7515-0.7470 levels initially. During Powell’s press conference, the cross-posted a low at 0.7530 and tested the lower end of rising wedge.
Before retraced to one week low, the cross was rejected at 100EA last and this week traced out with a triple top at 0.7626 levels.
Overall in the near term, the combination of all these factors are pointing to 0.7500-0.7470 levels ahead of resistance zone seems to be between 0.7600-0.7630 levels. Return above the resistance zone would ease downside pressure.
Noting that, we committed to our longer-term bullish view for 0.8100 levels. Waiting to buy ard 0.7350 levels.
Before retraced to one week low, the cross was rejected at 100EA last and this week traced out with a triple top at 0.7626 levels.
Overall in the near term, the combination of all these factors are pointing to 0.7500-0.7470 levels ahead of resistance zone seems to be between 0.7600-0.7630 levels. Return above the resistance zone would ease downside pressure.
Noting that, we committed to our longer-term bullish view for 0.8100 levels. Waiting to buy ard 0.7350 levels.