AUDUSD | Key Level | Pivot Point | Range Resistance
Today's analysis – AUDUSD – Trading at a key level as range resistance and dynamic support converge.
Points to consider:
- Pivot Point (key level)
- 21 EMA (dynamic support)
- Oscillators above 50
AUSUSD trading at a pivotal point in the chart, re-testing range resistance. A breakthrough failure will validate a short with range median as the immediate target. Body candle closes above range resistance validates a long trade to structural resistance.
Price action respecting the 21 EMA has allowed it to act as a visual guide. Further price development as it breaks in either direction will allow the MA to act as dynamic support/resistance assisting in trade management.
Both, RSI and Stochastics are ranging above 50, a sign of strength and momentum in the immediate market.
Overall, in my opinion, further price development will allow for directional bias, validate a trade in either direction.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
Points to consider:
- Pivot Point (key level)
- 21 EMA (dynamic support)
- Oscillators above 50
AUSUSD trading at a pivotal point in the chart, re-testing range resistance. A breakthrough failure will validate a short with range median as the immediate target. Body candle closes above range resistance validates a long trade to structural resistance.
Price action respecting the 21 EMA has allowed it to act as a visual guide. Further price development as it breaks in either direction will allow the MA to act as dynamic support/resistance assisting in trade management.
Both, RSI and Stochastics are ranging above 50, a sign of strength and momentum in the immediate market.
Overall, in my opinion, further price development will allow for directional bias, validate a trade in either direction.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.