AUDUSD: Risk Points Higher On Trend Resumption

23 February 2017, 13:46
FXTechstrategy
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AUDUSD. The pair continues to retain its upside pressure as it looks to resume its medium term uptrend. On the downside, support resides at the 0.7650 level where a breach will aim at the 0.7600 level. Below that level will set the stage for a run at the 0.7550 level with a cut through here targeting further downside pressure towards the 0.7500 level. On the upside, resistance lies at the 0.7750 level. A cut  through here will turn attention to the 0.7800 level and then the 0.7850 level where a violation will set  the stage for a retarget of the 0.7900 level. On the  whole, AUDUSD remains biased to the upside on further strength

 

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