AUD / USD Daily Technical Analysis | 18 July 2017
2017-07-18 09:35 am | Resource: Technical Analysis Section | No Views : 159
AUD/USD is trading in a bullish direction that is currently lacking in strength, based on the analysis of the ADX indicator shown in the previous chart on the hourly frame.
The positive thing is that the ADXL maintains the positive cross between the D + and the D - I colored green and the second red, and the RSI has broken the downtrend line a few hours ago.
It is expected that, as long as the pair is trading at the high of 0.7835, it targets 0.80, as a classic scallop form on the 4 hour time frame.
Support: 0.7825, 0.7786, 0.7714
Resistance: 0.7914, 0.7945, 0.7995
The pound weakened against major currencies in the European session on Monday, amid renewed uncertainty over Brexit, with officials from the UK and the European Union saying at the weekend that more work was needed to secure the Brexit agreement. After intense talks in Brussels, the EU's chief negotiator, Michel Barnier, said there was still a "big gap" on tariff arrangements. The pound traded in a negative territory against…
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