AUDUSD Technical Analysis (23-27 February,2015) | February 21, 2015

Audusd is fighting with resistance. 0.7850-0.7870 area is acting as good resistance for audusd. If this pair can stay below this resistance then it can start bearish rally again. On h4 time frame, this pair is also fighting with 100 EMA. If it break 100 EMA successfully on downside, then we can enter sell position on this pair. On stochastic, it is staying on overbought area which indicates to take sell entry from resistance. So we need to wait for rejection from resistance and break 100 EMA to take sell entry. On the other hand, if we see breakout of this resistance zone, then we can take buy entry on audusd.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 0.7916

Resistance One (R1): 0.7877

Pivot Point: 0.7809

Support One (S1): 0.7770

Support Two (S2): 0.7702