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AUDUSD Technical Analysis and Confirmed Patterns

AUDUSD Technical Analysis and Confirmed Patterns

PAIR/ INSTRUMENT AUDUSD
TIME FRAME H4
LIVE INTERACTIVE CHARTS AUDUSD Live Interactive Charts
KEY FUNDAMNETALS TO PAY ATTENTION
RBA’s relatively Hawkish Statement supported AUD.
Upbeat NFP and Labor Market report limited the gains
Coronavirus and slowing Chinese economy may have negative impact on AUD medium term.
TECHNICAL READINGS
MOVING AVERAGES The Price is below EMA 50, SMA 20,SMA100, SMA 200
Srongly Bearish
RSI RSI 7 P : 20   RSI 14 P: 33
MFI MFI 9 P Level : 14   MFI 15 P Level 22
VOLUME CD Supply / Deman Ratio : 0.97
CYCLES Another bearish run is likely according to the Medium Lenght Cycle
DIVERGENCE No confirmed RSI MACD MFI divergence
PATTERNS
HARMONIC Bullish Deep Crab
BREAKOUT Rounded Top / Double Top Targets 0.66230 0.66880
SUPPORT AND RESISTANCE 
RESISTANCE 1 : MM  4/8   0.6713
RESISTANCE 2 : MM 5/8 – EMA 50 0.6744
SUPPORT 1: 0.66520   SUPPORT 2: 0.66220
SUMMARY
Our Long trade has achieved the TP2 and closed
As seen on the chart, rounded top pattern is completed and validated.
The targets of the pattern are 0.66200 and 0.65880
Bullish Crab pattern will be validated at 0.65880 which can be used for a long trade

 

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