AUDUSD (1H) - short term bullish bias
The Australian dollar jumped overnight and started to recoup losses from last week's sell-off. The RSI had reached the over-sold area which suggested an over-extension. As the indicator recovered into the neutral zone, a bullish engulfing candle broke above the moving averages and the bearish trend line. This is a strong case for a reversal. The 20-hour MA has crossed above the 30-hour in a textbook bullish fashion. We would expect the pair to consolidate around the MAs before moving up again.
Key support: 0.6840
Key resistance: 0.6900
The Australian dollar jumped overnight and started to recoup losses from last week's sell-off. The RSI had reached the over-sold area which suggested an over-extension. As the indicator recovered into the neutral zone, a bullish engulfing candle broke above the moving averages and the bearish trend line. This is a strong case for a reversal. The 20-hour MA has crossed above the 30-hour in a textbook bullish fashion. We would expect the pair to consolidate around the MAs before moving up again.
Key support: 0.6840
Key resistance: 0.6900
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.