It has been a positive day for the
Australian Dollar so far and the AUDUSD pair
was trading 0.75 percent stronger during the London session, hovering near
0.7285.
Solid labour market data sent the
Australian Dollar sharply higher today and the Aussie managed to jump above the
second bearish trend line, and above the 100-day moving average, which switched
the short- and medium-term trend to bullish.
The next immediate resistance could now be at
the previous swing top at 0.73 and then perhaps at previous highs and lows near
0.7320. If these two are taken out, further rise toward another strong selling
level of 0.7450 could occur, where the 200-day moving average is located.
On the downside, the support is now at the
100-day moving average near 0.7255 and if not held, the pair could decline back
to the broken bearish trend line at 0.7200. While the pair trades above 0.72,
the immediate trend seems bullish.
The RSI indicator also confirms the current
upward movement, as it is slowly climbing to new highs.
Disclaimer:
Analysis and opinions provided herein are intended solely for
informational and educational purposes and don't represent a recommendation or
an investment advice by TeleTrade. Indiscriminate reliance on illustrative or
informational materials may lead to losses.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.