10:37, 19 December
AUDUSD Daily Analysis
The AUDUSD pair traded higher in the previous session to end at 0.7664, after making a high at 0.7678. A potential centerline crossover by the daily MACD to trade into its positive territory, along with the stochastic and RSI indicators placed at a higher level above their 50lines, indicates at a bullish technical scenario. Moreover, the 4H & 8H RSI and stochastic indicators are trading with an upside tone, further endorsing the above outlook. Important resistance is aligned at the 8H 200SMA (currently placed at the psychological 0.7700), a break above which might trigger further acceleration to the upside, paving way for the 8H upper Bollinger band (currently trading at 0.7730) and 0.7775 levels. On the other hand, key technical support is located at the 0.7632/30 level, followed by the 4H 50SMA (currently placed at 0.7593/30) and 0.7556/55 levels. A move back below the latter might lead to negative momentum in the pair.