Technical analytics

AUDUSD market technical outlook

AUDUSD
Daily chart:

Upper Bollinger band resides at 0.7834. It’s an important dynamic resistance level, which will sustain uptrend. At the same time activity of ADX is not on a trending level yet.

H4-chart:

Bollinger bands are in a stable sideways range amid weak ADX. It looks like we’ll get an extension of potential accumulation inside the upper bands (0.7718-0.7820).

H1-chart:

Resistance at 0.7797-0.7805 looks very steady intraday and also as a mid-term offer zone. Thus we don’t expect the pair above this zone so far. Supports are 0.7750-0.7753 and 0.7709-0.7718.

Conclusions:

Main scenario: Growth to 0.7797-0.7805, then decline in direction 0.7750 and 0.7709.

Alternative scenario: Is mirror to the main scenario: decline to 0.7709-0.7718, then growth to 0.7797-0.7805.

Trading recommendations:

  1. Shorts from 0.7797-0.7805 to 0.7709-0.7718.

  2. Longs from 0.7709-0.7718 to 0.7805 (and to 0.7834 in a longer outlook).