AUDUSD could get use of the Chinese stocks rebound to extend its rebound from 0.6825 to be trading currently above 0.7000 psychological level containing its total falling of last week.
After it had been exposed to increasing downside momentum by breaking 0.6903 supporting level which could prop up the pair on last Sep. 4.
After yesterday rebound, AUDUSD daily Parabolic SAR (step 0.02, maximum 0.2) is now its second day of being below the trading rate reading today 0.6826.
AUDUSD daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility is having its main line in neutral region but close to the overbought area above 80 reading now 78.490 dragging the signal line out the oversold area below 20 to read now 55.924.
Important levels: Daily SMA50 @ 0.7155, Daily SMA100 @ 0.7146 and Daily SMA200 @ 0.7360
S&R:
S1: 0.6825
S2: 0.6769
S3: 0.6527
R1: 0.7046
R2: 0.7084
R3: 0.7120
Have a good day
Walid Salah El din
Chief Tech Analyst of Trade-24
After it had been exposed to increasing downside momentum by breaking 0.6903 supporting level which could prop up the pair on last Sep. 4.
After yesterday rebound, AUDUSD daily Parabolic SAR (step 0.02, maximum 0.2) is now its second day of being below the trading rate reading today 0.6826.
AUDUSD daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility is having its main line in neutral region but close to the overbought area above 80 reading now 78.490 dragging the signal line out the oversold area below 20 to read now 55.924.
Important levels: Daily SMA50 @ 0.7155, Daily SMA100 @ 0.7146 and Daily SMA200 @ 0.7360
S&R:
S1: 0.6825
S2: 0.6769
S3: 0.6527
R1: 0.7046
R2: 0.7084
R3: 0.7120
Have a good day
Walid Salah El din
Chief Tech Analyst of Trade-24
After dramatic falling, The Aussie could gain back a place above 0.70
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