AUD/USD breaks strong resistance at 0.7595, targets 0.77
Upbeat Australian confidence gauge buoys Aussie bulls, AUD/USD extends gains above the 0.76 handle.
Data released earlier today showed that NAB Business Confidence jumped to 6 vs 3 last, while the business conditions numbers for Mar hit fresh 8-year high, coming in at 12 vs 8 previously in Feb.
AUD/USD broke strong trendline resistance at 0.7595, Technicals support further upside in the pair.
Price action holds above the Ichi cloud on 2H charts, major moving averages are biased higher and RSI strength seen at 67 levels.
Pair finds next major resistance at 0.7646 levels, breaks above will see test of 0.7680 and then 0.77 levels.
On the downside supports are located at 0.76, 0.7588 (2H cloud top) and then 0.7585 (trendline resistance turned support).
Focus now remains on the Chinese dataflow and Australian employment report due later this week for next direction.
The pair will also track broader market sentiment as well as the oil price action.
Good to go long on dips around 0.7630, SL: 0.7580, TP: 0.7680/0.77/0.7720
Data released earlier today showed that NAB Business Confidence jumped to 6 vs 3 last, while the business conditions numbers for Mar hit fresh 8-year high, coming in at 12 vs 8 previously in Feb.
AUD/USD broke strong trendline resistance at 0.7595, Technicals support further upside in the pair.
Price action holds above the Ichi cloud on 2H charts, major moving averages are biased higher and RSI strength seen at 67 levels.
Pair finds next major resistance at 0.7646 levels, breaks above will see test of 0.7680 and then 0.77 levels.
On the downside supports are located at 0.76, 0.7588 (2H cloud top) and then 0.7585 (trendline resistance turned support).
Focus now remains on the Chinese dataflow and Australian employment report due later this week for next direction.
The pair will also track broader market sentiment as well as the oil price action.
Good to go long on dips around 0.7630, SL: 0.7580, TP: 0.7680/0.77/0.7720
Trade ist aktiv:
Final target almost hit @ 0.7716. Book partial profits.
Immediate resistance at 0.7721, above which gains could be extended to the next hurdle located at 0.7759.
Upbeat Chinese trade data keeps pair supported. Techs also support more upside.
Book partial profits, raise stops to 0.7650, target 0.7760
Immediate resistance at 0.7721, above which gains could be extended to the next hurdle located at 0.7759.
Upbeat Chinese trade data keeps pair supported. Techs also support more upside.
Book partial profits, raise stops to 0.7650, target 0.7760
