AUD/USD 'key resistance' ahead

Technical Analysis

Author: Eamonn Sheridan | audusd

CS with technical analysis for the Australian dollar, a snippet or two:

  • essentially held support at 0.6520 last week
  • 0.6659/6706 we expect to prove a tough barrier
  • Post this, we are still biased towards weakness taking over again and see support initially at .6538, removal of which would open the door to a move back to the 21-day exponential average at .6520/06, where we expect to see fresh buying at first. Beneath here on a closing basis would negate the bull 'triangle' and reinforce the anticipated swing lower. 
CS see resistance up through to 0.6706:

CS with technical analysis for the Australian dollar, a snippet or two:

I am inclined to see how risk sentiment develops ahead as the main influence on AUD

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