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AUD/USD Daily Technical Analysis | 1 February 2018

2018-02-01 09:15 am | Resource: Technical Analysis Section | No Views : 271

During yesterday's trading, AUD/USD broke the lower leg of the classical symmetrical triangle pattern, leading to a clean start of the bleeding and falling to 0.8024 areas and breaking the minor ascending trend line.

AUD/USD Daily Technical Analysis | 1 February 2018

Currently the pair is trading in a bearish direction and the simple moving average 20 is pointing down.
RSI 14 is trading in a bearish trend in the configuration and breaking the secondary bullish trend line but without confirmation so far.
It is expected that if the AUDUSD breaks 0.8034, it might target 0.7932 levels, while breaching the 0.8068 pair might target the 0.8105 level.
Support: 0.8034 - 0.7968 - 0.7889
Resistance: 0.8123- 0.8182- 0.8221
Trend: Down


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