AUDUSD Weekly Technical Analysis (4-8 May, 2015) | May 2, 2015

Audusd has rejected from resistance at 0.8060 area. It failed to break that level and fall from that area. We saw a rejection on daily on that level and then this pair start falling. On weekly chart, this pair has formed bearish rejection pin bar. Weekly candle has been closed below 0.7900 resistance area. So it can be good sell set up from this pair. This pair is unable to stay above resistance area. So we can see selling pressure on this pair. With some retrace on this pair, we can go for sell.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 0.8188

Resistance One (R1): 0.8017

Pivot Point: 0.7904

Support One (S1): 0.7733

Support Two (S2): 0.762