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Technical Analysis

AUDUSD – Full Retracement Of 0.7739/0.7489 Pullback Signals Further Upside

Typography

The pair eventually cracked key barrier at 0.7739 (23 Feb high) on fresh acceleration higher today, after bulls paused on Thu/Fri, following strong post-Fed bullish acceleration.

Full retracement of 0.7739/0.7489 pullback signals that bulls from 0.7489 trough could extend towards next strong barrier at 0.7758/76 (highs of Aug / Nov 2016), where strong upside rejection occurred.

Hesitation at 0.7739 barrier could be anticipated on overbought slow stochastic, with dips to ideally hold above 0.7650/40 zone (base of thick hourly cloud, spanned between 0.7647 and 0.7678).

Res: 0.7745, 0.7758, 0.7776, 0.7800
Sup: 0.7695, 0.7661, 0.7647, 0.7629

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Windsor Brokers Ltd
Author: Windsor Brokers LtdWebsite: http://www.windsorbrokers.com/
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