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AUD / USD Daily Technical Analysis | 20 July 2017

2017-07-20 08:12 am | Resource: Technical Analysis Section | No Views : 142

AUD/USD ended yesterday's trading session at its highest level during the day, closing at 0.7950.
The overall trend for the pair is bullish and the simple moving average 20 confirms this with a bullish bias
The pair failed to break the resistance of 0.7978 and the Ben Bar pattern and the negative swallow pattern were at 0.7945, increasing the weakness on the current bullish trend.
AUD/USD with the RSI has another negative technical divergence. Based on the above, we expect the pair to test the upper levels of the scallop shell, which we mentioned in yesterday's morning report at 0.7824
Support: 0.7845, 0.7825, 0.7786
Resistance: 0.7945, 0.7978, 0.8071
Direction: Up

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