11:28, 20 February

AUDUSD Daily Analysis

After oscillating gains and losses, the AUDUSD pair formed a Doji candlestick pattern on the daily chart yesterday to close at 0.7913. As of now, the daily RSI and stochastic indicators are trading with an upside tone, hinting at possible bullish momentum in the coming session. In addition, a possible signal line crossover from below by the 2H MACD, along with the 8H RSI and stochastic indicators pointing towards the north, further confirms the above stance. Key resistance is placed at the 0.7954/55 level, followed by the 0.7988/90 and 0.8023/25 levels. A sustained break above the latter might trigger strength in the pair. On the other hand, immediate support is situated at the 4H lower Bollinger band (currently placed at 0.7882/80), followed by the 0.7848/45 level and the 8H lower Bollinger band (currently placed at 0.7813/10). A move back below the latter might lead to negativity in the pair.