Following its U-turn from 0.7805–0.7800 horizontal-resistance, the AUDUSD seems declining towards 0.7725-20 support test, but oversold RSI may confine the pair’s further downside, failing to which can highlight the 0.7700 and the 0.7670 rest-points. During the pair’s additional south-run beneath the 0.7670, the 0.7650 may become an important level to watch that if broken might not hesitate dragging the quote to 61.8% FE level of 0.7595. Meanwhile, an upside break of 0.7805 can trigger the pair’s recovery in direction to 0.7840 and then to the 0.7850-55. In case if buyers manage to conquer the 0.7855, the 0.7900 and the 0.7935 may appear in their radars to target.
Even if lesser than expected reading of EU Final CPI pulled the EURAUD back from nearby TL resistance, the pair can’t be termed weak unless closing below three-month old ascending trend-line, at 1.5790 now. However, chances of its dip to 1.5870 and to the 50-day SMA level of 1.5845 can’t be denied. Given the pair’s break of 1.5790, the 1.5750 can offer an intermediate halt in the course of its drop to 100-day SMA level of 1.5640. On the contrary, clearance of the 1.5955 resistance-line can quickly flash the 1.6000 round-figure on the chart whereas 1.6060 and the 1.6130 could entertain the Bulls afterwards. Moreover, price-rally above 1.6130 can aim for 1.6190 and the 61.8% FE level of 1.6340.
AUDJPY’s sustained break of upward slanting trend-channel signals the pair’s downturn to the 83.00 and then to the 82.60. Should sellers dominate past-82.60, the 81.90 and the 81.25 numbers can please them. Alternatively, north-side break of 83.55 reignites the importance of a descending trend-line stretched since late-February, at 84.00 now, breaking which 84.25 and the 84.50 can act as buffers ahead of pushing optimists to target 85.00 mark.
Considering the AUDNZD’s uptick beyond immediate TL resistance, the pair is likely heading towards 1.0635 and then to the 1.0670 but downward slanting trend-line, at 1.0685, may challenge the quote’s strength. If prices surpass 1.0685, the 1.0700, the 1.0760 and the 1.0800 are likely consecutive stats to mark their presence. Assuming the pair’s inability to sustain the breakout, the 1.0585 and the 1.0550 can come-back as levels while 1.0520, the 1.0500 and the 1.0485 may provide rests to the pair then after.
Cheers and Safe Trading,
This article was originally posted on FX Empire
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