AUDUSD Bullish Bias above 0.8865 levels !

Minors - 956854 (1)

The AUDUSD maintained some bullish momentum last week, printed support at the 0.8865 levels. Now the pressure will be on the key resistance 0.9080.

The AUDUSD will have to hold above the 0.9080 levels on a daily closing basis to push the market for further upside gains, If seen, It will have large bullish implication towards the 0.9333 levels where a breach will turn the focus on the 0.9400 levels.

Alternatively, a failure to hold above the 0.9080 levels on a daily basis could mean a return to the 0.8865 levels, a halt is strongly suggested, and buyers may come strongly to push the market towards/beyond 0.9080 levels, but losing the 0.8865 levels on a daily basis will expose 0.8819 levels and open 0.8750 ahead of 0.8650 levels.

In all, rise from 0.8819 is likely to extend beyond 0.9080 levels as long as support 0.8865 holds on a daily closing basis, losing this level would reverse risks to the downside towards 0.8750 ahead of 0.8650 levels.

 

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2 COMMENTS

  1. every day I watch your website and had subscribe to your news letter . Thanks for the daily direction of the eurusd, it is very helpfull for us . By the way are you vietnamese ?

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