Positioning Bias:
AUD/USD made a high 0.8187 and is slightly retreating from that level. The major resistance is around 0.8275 (200 4Hour EMA) any short term trend reversal can happen only above that level.
On the up side break above will target 0.83745 (Dec 10th high) /0.8395).
The pair’s minor support is around 0.8030 and any indicative break below will target 0.7900 (161.8% retracement of 0.82513 to 0.8034) in short term.
The major intraday resistance is around 0.8200.
Indicator (4 Hour Chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell AUD/USD around 0.8150, SL 0.8275, Target 0.8030/0.7900.
AUD/USD made a high 0.8187 and is slightly retreating from that level. The major resistance is around 0.8275 (200 4Hour EMA) any short term trend reversal can happen only above that level.
On the up side break above will target 0.83745 (Dec 10th high) /0.8395).
The pair’s minor support is around 0.8030 and any indicative break below will target 0.7900 (161.8% retracement of 0.82513 to 0.8034) in short term.
The major intraday resistance is around 0.8200.
Indicator (4 Hour Chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell AUD/USD around 0.8150, SL 0.8275, Target 0.8030/0.7900.