Forex: AUD/USD tests pivot point resistance
Forex pairs in this Article »
AUD/USD
FXstreet.com (Barcelona) - Having posted a daily low at daily Camarilla S3 Support, AUDUSD has climbed ahead of the US open to test daily pivot point resistance at 1.0378.
Having declined overnight, AUDUSD posted a low at 1.0362 today before finding support at the daily Camarilla S3, before climbing to test pivot point resistance. Looking at an hourly chart, spot is currently finding some short term resistance at the 20 MA, while RSI is at 45 and moving with a slight upside bias. The Danske Research team recommend going short on the pair, with a stop at 1.0425 and a target of 1.0259.
Having declined overnight, AUDUSD posted a low at 1.0362 today before finding support at the daily Camarilla S3, before climbing to test pivot point resistance. Looking at an hourly chart, spot is currently finding some short term resistance at the 20 MA, while RSI is at 45 and moving with a slight upside bias. The Danske Research team recommend going short on the pair, with a stop at 1.0425 and a target of 1.0259.
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