FxWirePro: AUD/USD rejected by session highs at 0.6958, good to sell rallies
Thursday, January 21, 2016 5:23 AM UTC
- AUD/USD now pushing further down below the 0.69 handle, giving up almost 60 pips from session highs reached at 0.6958 in early Asia.
- Risk sentiment seems to have worsened over the last hours, with the Asian stocks paring gains as oil and copper recovery falters.
- Techs on 4H charts point lower, pair cloud test channel base at 0.6830
- 0.6920 (4H 5DMA) is immediate resistance on the upside, while support on the downside lies at 0.6838 (Jan 19 lows).
Recommendation: Good to sell rallies around 0.69, Sl: 0.6960, TP: 0.6840