Long AUD/USD on 20-DMA breakout and bullish divergence
Technical Analysis: Bias Bullish
- Price action has broken above strong resistance at 20-DMA
- Bullish divergence on RSI and Stochs
- Stochs have rollover from oversold levels and biased higher
- MACD line shows bullish crossover on signal line
- +ve DMI crossover on -ve DMI
Support levels - 0.7710 (20-DMA), 0.7699 (5-DMA), 0.7637 (78.6% Fib)
Resistance levels - 0.7743 (61.8% Fib), 0.7783 (100-DMA), 0.7798 (50-DMA), 0.7810 (200-DMA)
Good to go long on dips around 0.7715/25, SL: 0.7680, TP: 0.7745/ 0.7780/ 0.78
- Price action has broken above strong resistance at 20-DMA
- Bullish divergence on RSI and Stochs
- Stochs have rollover from oversold levels and biased higher
- MACD line shows bullish crossover on signal line
- +ve DMI crossover on -ve DMI
Support levels - 0.7710 (20-DMA), 0.7699 (5-DMA), 0.7637 (78.6% Fib)
Resistance levels - 0.7743 (61.8% Fib), 0.7783 (100-DMA), 0.7798 (50-DMA), 0.7810 (200-DMA)
Good to go long on dips around 0.7715/25, SL: 0.7680, TP: 0.7745/ 0.7780/ 0.78
Series of strong resistances upto 0.7820. Decisive close above will see further upside.