The pulse of risk-on to start the week boosted the AUD/USD from Friday's close near 0.9910 to slightly crack the 1.00 level just moments after retail fx opened for the week of 6/11-6/15. In the 4H chart, the RSI tagged 70 fell to around 50 and is pushing above 60, a sign of bullish momentum developing.
This initial push gives the AUD/USD a bullish tone for the week, especially if the opening jump can be followed by a push above the 1.00-1.0020 resistance area. If the market fails to push above 1.0020, and falls below last week's low, as well as the 0.98 pivot, the 0.96 low is likely to be re-tested.
The pulse of risk-on to start the week boosted the AUD/USD from Friday's close near 0.9910 to slightly crack the 1.00 level just moments after retail fx opened for the week of 6/11-6/15. In the 4H chart, the RSI tagged 70 fell to around 50 and is pushing above 60, a sign of bullish momentum developing.
This initial push gives the AUD/USD a bullish tone for the week, especially if the opening jump can be followed by a push above the 1.00-1.0020 resistance area. If the market fails to push above 1.0020, and falls below last week's low, as well as the 0.98 pivot, the 0.96 low is likely to be re-tested.
FXTimes
Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.
FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analyses.
No comments:
Post a Comment