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AUDUSD Weekly Technical Analysis 1-5 February, 2016 | January 30, 2016



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Audusd has broken neckline of the invert head and shoulder pattern. Now this pair is staying above neckline. So we need to stay on bullish mode above the neckline.


This pair has broken 200 EMA on h4 time frame as we can see on the chart. This pair is now retesting 200 ema again. This pair can fight with this 200 ema. As audusd is staying above neckline and 200 ema, this pair should be bullish on the next week.


0.7040 level can be buy zone for this pair. With 50-60 pips stop loss, we can take buy entry on this pair, first target will be 0.7100 and then 0.7200 level.


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