AUDUSD rallies into some pretty good resistance

As the dollar selling moves toward the fixing the AUDUSD runs into some tough resistance levels

As the London month end fixing runs into some dollar selling (and stocks move higher), the AUDUSD is tracking higher and getting closer to some pretty good resistance. The 200 day is currently at 0.72955. A trend line connecting the recent highs on the daily is at 0.7300.  KEY, key level.  I would expect some stall against the area on the test with stops on a break.  

Articles You May Like

US Treasury Sec. Mnuchin: Putting financial institutions on notice that there could be sanctions on Turkey
GBP/USD bars testing bull’s commitments at 1.22 the figure
BOC, ECB, & RBA Rate Expectations Drop as Global Recession Fears Cool – Central Bank Watch
European shares end the day (and the week) with solid gains
Two reasons why markets love the US-China trade deal

Leave a Reply

Your email address will not be published. Required fields are marked *