AUD/USD- Technical Analysis – FX-Insights

AUD/USD- Technical Analysis – FX-Insights

The AUD/USD pair has broken a major reversal pattern- Head & Shoulder on a daily time frame. The price is trading below the 50 day (shown in green) and 100 day (shown in yellow) moving average which means that the bears are in strong control of the price.  The pair has pierced the Bollinger band at this level which means that the volatility for the pair is high. The piercing of the Bollinger band does have a significant importance when this takes place at an important level of support or resistance because this could reverse or pause the current trend.

The RSI is trading near the oversold zone which means that the bias could change soon to the upside.

Important Zones

Resistance Zones

0.9764-0.9702 Major

0.9437-0.9379 Minor

Support Zones

0.8900-0.8842 Minor

0.8696-0.8622 Major

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AUD/USD- Technical Analysis – FX-Insights

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