Daily Technical Analysis

AUDUSD finds strong support at 0.7386, good to long dips

AUDUSD:Bearish 3 Drives Pattern

The bearish 3 Drives pattern is completing at about 0.744 levels. meanwhile the RSI has been divergent already. therefore it may be good to sell at 0.744-0.745 levels once price action gives the signal in the PRZ. Stop Loss : above 0.747 Take Profit one at 0.740 Take Profit two at 0.737 and more…


AUDUSD finds strong support at 0.7386, good to long dips

AUD ignored weak Q3 construction work information is presently trading at 0.7433, 0.49% higher on the day. Technicals recommend upside in the pair, we see major support at 0.7386 (converged 78.6% Fib and 5-DMA). Break below could see reversal. Major support levels – 0.74, 0.7386 (5-DMA & 61.8% Fib), 0.7311 (Nov 21 low), 0.7280 (78.6% Fib) Major resistance levels – 0.7461 (50% Fib), 0.7467 (10-DMA), 0.75, 0.7517 (200-DMA) good to go long on dips around 0.7415/25, Stop Loss: 0.7360, Take Profit: 0.7460/ 0.75/ 0.7515.



Pay attention in the indicated blue zone


In Another View Point – AudUsd is doing a retest on a daily support

AudUsd is doing a retest on a daily support , now its on 50% fibonacci retrecmant im waiting for a brekout of that trend line , retest and then sell with take profit one 0.72500 take profit two 0.71500.


About the author

Mohammad Riad

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