10:11, 09 April
AUDUSD Daily Analysis
The AUDUSD pair formed a Doji candlestick pattern on Friday to close at 0.7684. As of now, a signal line crossover from below by the 4H MACD, accompanied by the 8H RSI and stochastic indicators sharply heading towards the north, indicates at the positive momentum over intraday bias. In addition, the daily momentum oscillators are trading with an upside bias, further confirming the above stance. Key technical resistance is placed at the 4H upper Bollinger band (currently trading at 0.7714/15), followed by the 0.7744/45 and the 100day SMA (currently placed at 0.7782/85). A break and stability above the latter might lead bullish momentum in the pair. On the other hand, crucial support is situated at the 4H lower Bollinger band (currently trading at 0.7659/55), followed by the 0.7623/20 and the daily lower Bollinger band (currently placed at 0.7592/90). A breach below the latter might trigger negative momentum in the pair.