AUDUSD: bulls won
Tatiana Norkina, FBS analyst
In the recent days, the Australian currency has managed to significantly strengthen and recover to the previously mentioned levels - $0.7850. However, this was preceded by somewhat uncertainty, taking the form of consolidation above the Tenkan and Kijun lines. It should be noted that the latter have formed a new golden cross in the positive area that will be active in the near future.
Combined with the positive cloud, the current situation looks obviously bullish. Therefore, we do not rule out a possibility of a break through the important levels in the 0.7880-0.7900 area. These extremes have been held by the bears since this February.
Technical levels: support – 0.7850; resistance – 0.7880, 0.7900, 0.7950.
1. Buy — 0.7850; SL — 0.7830; TP1 — 0.7900; TP2 — 0.7950.