AUD/USD: technical analysis 14.03.2019

AUD/USD: technical analysis 14.03.2019

Current trend

The AUD/USD pair begins today’s trading in a bear trend below middle line of Bollinger Bands. The downward trend will be restored after the price is set below the level of 0.7049 (Murray [3/8]). In this case, the next targets of sellers will be the level of 0.7019 (Murray [2/8]). Additionally, pair’s sustained trading below the 0.7019 could set 0.6988 and the 0.6958 as next sellet target. If the “bulls” manage to raise the rate above the level of 0.7065, the correction can continue to the area of 0.7080 (Murray [4/8])-0.7110 (Murray [5/8]). Technical indicators reflect the moderate maintenance of the current downward trend. Bollinger Bands are pointed sideways. MACD volumes are decreasing in the positive zone. Stochastic’s lines are pointed downwards.

Support and resistance

Support levels: 0.7049, 0.7019, 0.6988, 0.6958.
Resistance levels: 0.7065, 0.7080, 0.7110, 0.7141.

Trading recommendations

Short positions can be opened below the level of 0.7049 with the target at around 0.6988 and stop-loss 0.7070.
Long positions can be opened above the level of 0.7065 with the target at around 0.7110-0.7141 and stop-loss 0.7040.