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AUD/USD Daily Technical Analysis | 7 February 2018

2018-02-07 07:46 am | Resource: Technical Analysis Section | No Views : 281

With the start of the Australian session, AUD/USD broke the bearish trend line on the hourly interval but without confirming the 0.7908 trading result, and the pair failed to stabilize above the 0.7889 area.

AUD/USD Daily Technical Analysis | 7 February 2018

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
Trend: Down


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