Technical analytics

AUDUSD market technical outlook

AUDUSD

Daily chart:

Bulls are actively breaking the upper Bollinger band at 0.7200. It looks like we’ll face a very strong distribution of the price to the upside that is indicated by trending dynamics of ADX indicator. The next targets are 0.7300, 0.7400.

H4-chart:

On local chart bullish pressure from ADX is in place as well. The price resides at new highs already, therefore there are virtually no doubts in further intensive growth of the quotes.

H1-chart:

Upper Bollinger band on hourly chart is broken and it’s a solid signal of growth extension. At the same time a pullback to PPZ 0.7161-0.7175 is still likely. At this region we have the most optimal area for opening new long trades.

Conclusions:

Strong growth to 0.7300 and 0.7400. Prior testing of 0.7161-0.7175 may take place.

Trading recommendations:

Longs to 0.7300 and 0.7400. Optimal entry zone is 0.7161-0.7175.