10:32, 27 December

AUDUSD Daily Analysis

The AUDUSD pair traded higher in the last session and closed at 0.7728, after hitting a high at 0.7730. At present, the daily MACD is trading high above in its positive territory, accompanied by the RSI and stochastic indicators placed near their overbought region, hints the presence of bullish momentum in the pair. In addition, a signal line crossover from below by the 4H MACD, along with the RSI and stochastic indicators sharply heading north, further endorses the above stance. Important resistance resides at the 0.7784/85 level, followed by the 0.7825 and 0.7865 level. A surge above the latter might trigger further bullish momentum in the pair. Key intraday support is located at the 2H lower Bollinger Band (currently placed at 0.7705), followed by the 0.7656/55 level and 4H 200SMA (currently trading at 0.7612/10). A breach below the latter might lead to negative momentum in the pair.