AUD/USD instrument showed mixed trading on Tuesday. At the trading day opening, bears completely were owning initiative, as a result, the instrument fell by more than 50 points. However, couple hours later after the European deals opening, bulls managed to reverse the situation, which resulted the earlier falling was fully leveled and even more… And drawing conclusion, it can be said that the pair rose by 17 points. The trading volatility totaled to 61 points. Open/Close-0.9174/0.9191. High/Low-0.9196/0.9135.
In short-term outlook, the tendency is likely an upward for now. FTLM_STLM indicator lines position testifies to it. But FTLM lines and RBCI mid line direction is purely bearish, which can speak for possible bearish impulse. The price is in thin channel for now, a breakout of levels of which will open further motion for the price. Channels are diverged, which is evidence of high volatility.
Resume: at the moment, it will be better to enter the market after passage of important levels.
Recommendation: Buy above 0.9211, sell below 0.9130 (these recommendations are my own opinion and they do not impel to particular action… Analyst is not responsible for trader action on these recommendations).
Support and Resistance within the channel and trend lines.
Pic.1
————————————————–
In middle-term outlook, the indicators signal about a descendant tendency. FTLM_STLM indicator lines placement indicates this and RBCI indicator mid line position, which lies in the bearish direction and below zero mark also testifies to it. RBCI indicator channels have diverged, which speaks for the volatility growth. However, now the price is stuck between local extreme and 23.6% Fibo from February 5 growth.
Resume: for now, it is better to find sale entry points, but extremely carefully, as gathering levels likely can lead to a breakout in any direction.
Recommendations: Buy above 0.9211, sell below 0.9130 (these recommendations are my own opinion and they do not impel to particular action… Analyst is not responsible for trader action on these recommendations).
Support and Resistance within extreme values of last three days, trend lines.
Pic.2
————————————————–
In long-term outlook, the indicators signal about tendency changing from bearish to bullish. FTLM_STLM indicator lines indicate this. Also, RBCI indicator mid line, which has reversed to bullish direction, crossed zero mark and is approaching the ascendant channel. However, it should be mentioned that the price is extremely close to the resistance level and judging by the formed candles, technical bearish correction is likely to be! Therefore, for the moment, bulls need in a breakout of the resistance level.
Resume: bullish trading is advisable, but only after the level breakout. Remember, bearish correction is possible to take place!
Recommendations: buy above 0.9211, sell below 0.9130 (these recommendations are my own opinion and they do not impel to particular action… Analyst is not responsible for trader action on these recommendations).
Support and Resistance within trend lines, Fibo levels, extreme values of last three weeks.
Pic.3
————————————————–
More analysis at instaforex.com