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Technical Analysis

Technical Outlook: AUDUSD Faces Strong Headwinds At 0.7470/0.7500 Zone

Typography

The Aussie regained traction and retested recovery high at 0.7467 after Thursday's trading ended in red on strong upside rejection.

Higher prices of metals support AUD, however, fresh rally faces strong headwinds at 0.7470 zone (Fibo 61.8% of 0.7554/0.7327 / 55SMA) and 0.7500 (Fibo 76.4% / weekly cloud top.

Risk of repeated rejection here comes from bearishly aligned daily studies, with the pair expected to spend some time in consolidation between 10SMA support (0.7397) and 0.7470 resistance.

Fresh direction will be established on break of either boundary.

Res: 0.7467, 0.7500, 0.7544, 0.7554
Sup: 0.7424, 0.7397, 0.7387, 0.7364

Author: Windsor Brokers LtdWebsite: http://www.windsorbrokers.com/
Windsor Brokers Ltd
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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