AUDUSD Technical Analysis (19-23 January,2015) | January 18, 2015

AUDUSD has bounced back from key support. 0.8030-0.8065 is key area for this pair. If it holds this support area, then it can start bullish rally. It has broken its near term resistance area at 0.8200-0.8220 level. Above this level, this pair will be short time bullish momentum and target will be 0.8360 area.

In weekly chart, a rejection candle is formed after a big bullish weekly candle. So it is showing some bullish movement on this pair. So we can stay on upside bias.


In daily chart, a pin bar is formed and bullish candle after that pin bad confirms its buy signal. So we can take buy from retracement on this pair.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 1.0740

Resistance One (R1): 1.0643

Pivot Point: 1.0543

Support One (S1): 1.0446

Support Two (S2): 1.0346