On weekly chart analysis, AUDUSD
is trending down (I had analysis on date 4/24/14). On the other hand, Friday was extraordinary, showing positive NFP but USD weaken after results. Moreover, because of Friday's Pin Bar
Reversal I do strongly believe that we will see for a couple of days AUD prices going up. MA 200&100 showing creation of possible uptrend on daily chart
, and also EMA
being nice support ( EMA
39 strongly rejected Friday Candle).
Secondly, there is a positive divergence on RSI
and Price Action, showing Bulls are coming.
Finally, the Pin Bar
rejected strong support level
0.91918 (previous resistance)
On a longer term, It possible double top
or H&Ss (But head not breaking 0.97827 high of 10.21. 2013
) and then going south.
Have a nice trading week,
And watch for Thursday EUR Interest Rate Figures :P