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AUD/USD Daily Technical Analysis | 31 January 2018

2018-01-31 08:23 am | Resource: Technical Analysis Section | No Views : 278

AUD/USD is trading in a sideways direction as the pair is trading within a classic continuation pattern, the symmetrical triangle on the hourly and intraday Asian session today, the bear tried to break the lower leg of the pattern but failed.

AUD/USD Daily Technical Analysis | 31 January 2018

The SMA 20 is overlapping with the movement of the pair so its direction is undetermined.
RSI 14 is trading in an intraday direction within a classical symmetrical triangle pattern during European session yesterday. The index failed to break the bottom border of the pattern.
It is expected that if the pair breaks against the US currency 0.8040 could target levels of 0.7925 on the other side, if the breach of the pair level of 0.8071 may target the level of 0.8133.
Support: 0.8034 - 0.7968 - 0.7889
Resistance: 0.8123- 0.8182- 0.8221
Trend: neutral

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