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AUD / USD Daily Technical Analysis | 19 July 2017

2017-07-19 07:20 am | Resource: Technical Analysis Section | No Views : 168

AUD / USD ended yesterday's trading session close to the highest levels during the day, where it closed at 0.7915 levels, while the highest levels achieved at 0.7942.

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
Direction: Up


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