AUDUSD (long) breakout today - did anybody catch it? Lots of confluence

[izzy_63]

The pair could not move further, bullish strength struggle beyond 0.74 level, support can be seen around 0.7360 level and break below would be targeting 0.7320.

 

[victoriajensen]

The pair is still very bearish and it will likely soon break out below the support at 0.7300.

 

[fxstrategist]

The AUDUSD breaks below the 0.7400 level and drops to the 0.7300 zone where it may find some support. Above the 0.7400 level, the 55 day EMA may act as resistance.

 

[victoriajensen]

0.7310 - 0.7300 definitely acts as a support for now, a breakout below those levels could lead to a further move to the downside towards 0.7260.

 

[bigdolly]

0.7310 - 0.7300 definitely acts as a support for now, a breakout below those levels could lead to a further move to the downside towards 0.7260.

How do you define those S/R lines? By simple visual analysis or more stricter rules came in play?

 

[victoriajensen]

How do you define those S/R lines? By simple visual analysis or more stricter rules came in play?

By using different Moving Average indicators for the most part.

 

[victoriajensen]

AUD/USD continues consolidating sideways, that will likely continue until the fundamentals tomorrow.

 

[AngieB]

Aussie is trading higher and pushed above 0.7400. First bullish target is provided by the weekly high at 0.7425 followed by the psychological handle at 0.7500. The dowside is supported by 0.7380 and lower at 0.7335.

 

[victoriajensen]

The pair moved to the upside today and next week it may reach 0.7450 again.

 

[izzy_63]

The pair had a bullish breakthrough, currently trading 3 weeks high, immediate resistance can be seen at 0.7500 level.