AUDUSD Technical Analysis (2-6 February,2015) | January 31, 2015

AUDUSD continued its downtrend last week. It tested near-term resistance level at 0.8020 and fall from that level. After that rejection, we saw rapid falling. It is now staying below 0.7800 area. This level is now acting as near-term resistance area. If this pair hold this resistance, then we can take sell entry and target will be 0.7670 area.


In Technical Indicators view

In daily chart, MACD indicator is below 0.0 level which indicates strong down trend.

In daily chart, RSI indicator is showing that this pair is oversold. So we have to wait for retracement for take sell entry.

All Moving averages are giving sell signal in this pairs.
In summary, we have to stay on downside for further down rally.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 0.8141

Resistance One (R1): 0.7952

Pivot Point: 0.7836

Support One (S1): 0.7647

Support Two (S2): 0.7531