TheBanker
Long

Weekly Forex Report 22nd Feb 2016 - AUDUSD

FX:AUDUSD   Australian Dollar/U.S. Dollar
AUD/USD ( DAILY )
RECOMMENDATION: BUY


SUMMARY:
The secondary trend of AUD/USD             is bullish on charts and price is trading below the trend line in its daily chart . In daily chart the price is sustaining below 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7242 and support at the level of 0.6970. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.

INDICATORS:-
MACD is sustaining in its positive territory indicating the bullish trend in the pair.
RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair.

STRATEGY:
AUD/USD             is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.
Trade active: Line has been broken and closed above, I hope we are all in this...
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