AUD/USD Daily Technical Analysis | 7 February 2018
2018-02-07 07:46 am | Resource: Technical Analysis Section | No Views : 306
Our neutral view of the pair until the breach is confirmed or 0.7834 is broken, and the 20 SMA is neutral.
The RSI 14 so far is trading in a major bearish direction and during today's Asian session, the bullish trend line broke, supporting the sellers at the buyers' expense.
It is expected that if the pair breaks against the US currency 0.7833 might target levels of 0.7817 while, if the pair breached the level of 0.7908 may target the level of 0.7976.
Support: 0.7817- 0.7784 - 0.7739
Resistance: 0.7889 - 0.7968- 0.8034
Pound fell in European trade on Wednesday after data showed that UK inflation rose to 1.5% in October UK producer prices fell to 0.8% in October UK inflation fell to 1.5% in October UK consumer prices rose to 1.5% in October from the same month last year, the Office for National Statistics said Wednesday. This figure is lower than September when the UK's annual inflation rate was 1.7%. The biggest…
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