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AUD/USD Forex Signal - 22 March 2016

AUD/USD Signal Update

No signals were given yesterday.

 

Today’s AUD/USD Signals

No specific signals are given today.

 

AUD/USD Analysis

We remain in a situation where the closest key support and resistance levels are so far away from the current price that there is no point in giving any precise signals today. Key support is at 0.7398 and key resistance is at 0.7860.

The Australian Dollar still looks bullish, and a demonstration of this could be seen during the early London session today when news of the attacks in Brussels broke. The USD strengthened everywhere, as is common in moments of crisis such as this, but the Australian Dollar bounced back more quickly and more strongly than any other currency, and this pair is currently trading at a price that is roughly where it was during the late Asian session earlier.

Although the price did spike down to a possible minor demand area around 0.7550, there may need to be a deeper pullback before the price really takes off bullishly again. Nevertheless, a move up above 0.7600 could well start from here now.

There is also some minor resistance at around 0.7625, and if that is taken out with force by any forthcoming upwards thrust, it would be a strongly bullish sign.

We might need to wait until tomorrow when there will finally be some key U.S. economic data released for things to get moving with this pair.

AUDUSD

There is nothing due today concerning either the USD or the AUD.

Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

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