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FxWirePro: AUD/USD Trade Idea

Tuesday, May 22, 2018 11:13 AM UTC

FxWirePro Currency Strength Index for AUD/USD: Bias Bullish
FxWirePro's Hourly AUD Spot Index was at 98.3146 (Bullish)
FxWirePro's Hourly USD Spot Index was at -82.8395 (Bearish)

Technical Analysis: Bias Bullish
- Price has broken above 5-DMA
- Momentum studies are bullish
- We see +ve DMI crossover on -ve DMI
- MACD shows bullish crossover on signal line
- We evidence bullish divergence on Stochs

Support levels - 0.7583 (23.6% Fib), 0.7541 (5-DMA), 0.75
Resistance levels - 0.76, 0.7638 (50-DMA), 0.7680 (trendline)

Recommendation: Good to go long on dips around 0.7580/90, SL: 0.7540, TP: 0.7635/ 0.7680

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FxWirePro: AUD/USD Trade Idea

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