12:50, 26 February
AUDUSD Daily Analysis
The AUDUSD pair recorded mild losses on Friday and closed at 0.7843, after notching a low at 0.7804. At present, the daily MACD and RSI are pointing towards the north, along with the stochastic indicator tranquil above its 50line, hints at likely bullish momentum in the coming session. Besides, a signal line crossover from below by the 8H MACD, coupled with the 4H stochastic .indicator tranquil in its overbought territory, further validates the above outlook. Key resistance is aligned at the 0.7910 level, followed by the 8H upper Bollinger band (currently trading at 0.7947/50) and the 0.7983/85 level. A sustained break above the .latter might lead to upside momentum in the pair. On the other hand, important support is placed at the 2H 50SMA (currently .trading at 0.7845), followed by the 0.7805 and the 100day SMA (currently placed at 0.7774/70). A breach below the latter might .triggerfurther acceleration to the downside.