ADS Securities: Bullish AUDUSD above 0.7695


Aussie’s bullish reversal at the start of this week, indicates that the bulls remain to have the upper hand. However, ADS Securities’ research team expects only a bullish AUDUSD above 0.7695. It’s decision time for AUDUSD.

30 March, ADS Securities – The AUDUSD pair finished in the green for the third consecutive session yesterday amid expectations that Chinese economy is growing in line with market anticipations and is likely to expand by 6.8% in the first quarter of 2017. Currently, the pair is trading with a negative bias, hinting at weakness in the coming session.

Bullish AUDUSD above 0.7695

bullish AUDUSD above 0.7695

Moreover, the MACD is heading lower further endorsing the above view. Key support is situated at the 0.7655 level, followed by the 0.7645 where EMA 55 is placed and 0.7635 levels. A breach below the latter might trigger bearishness in the pair. On the contrary, the key technical barrier is placed at the 0.7675 level, followed by the 0.7685 and 0.7695 levels. A breakout about the latter might lead to further acceleration to the upside in the pair.

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