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kct-perspective

AUD/USD - Shorting Opportunity

Short
Australian Dollar / U.S. Dollar (FX_IDC:AUDUSD)  
kct-perspective  
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
Support and Resistance Trend Lines Moving Averages AUDUSD audusdshort audusdforecast audusdcorrectional audusdanalysis
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supportandresistance trendline movingaverage audusd audusdshort audusdforecast audusdcorrectional audusdanalysis
AUD/USD likely to retract.
  • Simple Moving Average (7 days) and Long Term Moving Average (28 days) on a 4 hour interval chart are approaching a cross over indicating a change in market direction
  • Relative strength indexes indicated the pair had previously had been overbought on a 4 hour interval chart and remains overbought on a 1 day interval chart at 73.84% on the previous market close.
  • Previous Resistance levels provide us with the following: Resistance 1 at 0.7970, Resistance 2 at 0.8040 (Based on May 2015), Resistance 3 at 0.8100 (Based on April 2015)
  • Previous Support Levels Support 1 at 0.7835 (Based on April 2016), Support 2 at 0.7760 on (April 2016)
  • Stop Loss: 0.7970, Target 1: 0.7835, Target 2: 0.7760
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