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AUD Technical Analysis Overview

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by , 02-22-2019 at 03:36 PM (93 Views)
      
   
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AUDUSD failed to make a convincing break above the descending trendline yet again. The pair currently holding the 0.7100 handle after a somewhat excessive move to the downside. Key support situated at the 0.7067, which marks the 23.6% Fibo level. Momentum indicators remain bearish; however, this has eased in recent sessions, which in turn could see slight stabilisation in the near-term. On the topside, resistance is at 0.7180-0.7200.

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AUDJPY remains bearish below 80.00, overnight saw topside resistance at 79.80 hold firm. Momentum indicators continue to point to a bearish outlook. Eyes now on support situated at 78.40-50, whereby a firm break below could open up a move towards 78.00.

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Key support at the 1.04 handle continues curb AUDNZD from further losses, alongside this, bearish momentum indicators have notably eased over the past week suggesting that the cross may have based out around 1.0370. As such, there is increased scope for a move to the upside with the 50dma at 1.05 in focus.

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