10:14, 23 March
AUDUSD Daily Analysis
The AUDUSD pair traded lower in the previous session to end at 0.7693, after nudging a low at 0.7687. Although the daily MACD is trading in the negative territory, the stochastic and RSI indicators are sharply heading towards the north, indicating at a positive. momentum in the pair. Moreover, the 8H MACD is pointing upwards, coupled with the 4H stochastic indicator heading north, further supports the above stance. Key intraday resistance is positioned at the 0.7745 level, followed by the 20day SMA (currently .placed at 0.7780) and the 8H 100SMA (currently trading at 0.7815). A sustained break above the latter might lead to positive .momentum in the pair. On the other hand, crucial support is seen at the 2H lower Bollinger band (currently placed at 0.7677/75), followed by the 0.7646/45 and 0.7610 levels. A breach below the latter might trigger further negativity in the pair.