17 Feb 2015
AUD/USD short-term bullish – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest the short-term outlook for AUD/USD favours the upside, with the pair in need of a push above the resistance at 0.7830 to confirm further advances.
Key Quotes
“The AUD/USD pair surged above the 0.7800 figure, pressuring the top of its latest range, and with the short term picture favoring the upside, as the 1 hour chart shows that the price extends above its 20 SMA and the technical indicators aim higher above their midlines.”
“In the 4 hours chart the 20 SMA also presents a bullish slope below current price, offering dynamic support around 0.7780, while the indicators bounced strongly from their midlines and maintain their bullish slopes, supporting the shorter term view.”
“Some follow through above 0.7830 however, is required to confirm further advances today.”
“Support levels: 0.7780 0.7750 0.7720"
“Resistance levels: 0.7830 0.7865 0.7900”
Key Quotes
“The AUD/USD pair surged above the 0.7800 figure, pressuring the top of its latest range, and with the short term picture favoring the upside, as the 1 hour chart shows that the price extends above its 20 SMA and the technical indicators aim higher above their midlines.”
“In the 4 hours chart the 20 SMA also presents a bullish slope below current price, offering dynamic support around 0.7780, while the indicators bounced strongly from their midlines and maintain their bullish slopes, supporting the shorter term view.”
“Some follow through above 0.7830 however, is required to confirm further advances today.”
“Support levels: 0.7780 0.7750 0.7720"
“Resistance levels: 0.7830 0.7865 0.7900”