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2/18/2016 2:45:52 AM

AUDUSD returns higher - Technical Analysis - 18-02-2016



AUDUSD returned higher in the intraday levels after leaning previously on the important support of 0.7105, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 0.7385 to 0.6826), coinciding with leaning on the SMA for the last 50 days period, lending the pair positive momentum that helped it bonce higher, attacking the resistance of 0.7171, which represents the ratio 61.8%, with an influx of positive signals from relative power indicators.

Therefore we expect more gains for the pair, especially if it breached the resistance of 0.7171, targeting thereafter the next and last resistance in the near term at 0.7253, which represents the ratio 76.4%.


Target
Risk


Support
Resistance


Trend Bullish

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