Daily Outlook For AUD/USD
Ian Copsey | Mar 29, 2017 01:10AM ET
INTRADAY CHART AUD/USD
BIAS: Ideally, we should see gains today.
Resistance: 0.7657-67 0.7684 0.7702-05 0.7720-25
Support: 0.7620-30 0.7587 0.7557-70 0.7530-40
MAIN ANALYSIS: I was surprised with the additional losses to 0.7587 but this should have been the low, particularly because the recovery broke above 0.7648. We should allow for a pullback to 0.7620-30 but overall I am expecting a stronger rally that needs to move back towards 0.7720-25 and later above.
COUNTER ANALYSIS: Only a break below 0.7587 could see losses extend to 0.7557-70. Take care here and note any possible bullish divergences, both hourly and 4-hour.
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