AUD / USD Daily Technical Analysis | 19 July 2017
2017-07-19 07:20 am | Resource: Technical Analysis Section | No Views : 168
The bullish trend in which the AUD / USD pair is trading is weak, based on the analysis of the ADX indicator shown on the previous 4-hour chart.
The RSI 14 shows a negative technical divergence in formation that further weakens the current bullish trend, but what compensates the buyers for this weakness is the bullish scalpel model "Scallop" which was also explained in yesterday's morning report.
It is expected that, as long as the pair is trading at the high of 0.7825, it targets 0.7978 and then the overall target at 0.8071.
Support: 0.7845, 0.7825, 0.7786
Resistance: 0.7945, 0.7978, 0.8071
The dollar rose and the euro weakened as the pound traded mixed in European trade as traders awaited the new Brexit and trade war after US Commerce Secretary Wilbur Ross said on Monday that a "correct" trade deal with China was more important than signing in November. Ross: China's deal should be right, not quick The comments come after President Donald Trump said the "first phase" deal should be "easy…
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