Home AUDUSD: Resumes Strength, Eyes Key Resistance
Forex Bits

AUDUSD: Resumes Strength, Eyes Key Resistance

AUDUSD: Having resumed its bullish offensive following a one-day pullback, AUDUSD looks to strengthen further.

On the upside, resistance resides at the 0.9400 level where a violation will set the stage for a run at the 0.9460 level and then the 0.9500 level.

A break will aim at the 0.9550 level and then the 0.9600 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, support stands at the 0.9366 level. A reversal of roles as support is likely to occur here but if that fails to occur expect more decline to occur towards the 0.9300 level.

Further down, support comes in at the 0.9250 level followed by the 0.9200 level. All in all, the pair remains biased to the upside on further strength.

AUDUSD

Guest post by FX Tech Strategy

FX Tech Strategy

FX Tech Strategy

FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012.