Technical analysis of AUD/USD for March 15, 2019 888011000 110888 Summary: The AUD/USD pair is set above strong support at the level of 0.7046 which accompanies the 23.6%Fibonacci retracement level and 0.7168. This assistance has actually been declined four times verifying the uptrend. Thus, the significant support is seen at the level of 0.7046, since the pattern is still revealing strength above it. Accordingly, the pair is still in the uptrend in the location of 0.7046 and 0.7168. The AUD/USD pair is trading in the bullish trend from the last assistance line of 0.7112 towards the first resistance level of 0.7168 in order to evaluate it. This is confirmed by the RSI sign signaling that we are still in the bullish trending market. Now, the set is likely to start an ascending movement to the point of 0.7168 and even more to the level of 0.7290. The level of 0.7389 will serve as the major resistance and the double top is currently set at the point of 0.7389.At the very same time, if there is a breakout at the support levels of 0.7112 and 0.7046, this situation might be invalidated. Overall, nevertheless, we still choose the bullish scenario.The product has actually been provided by InstaForex Company-www.instaforex.com

By | March 15, 2019

Leave a Reply

Your email address will not be published. Required fields are marked *