aud usd weekly : strong bullish breakout on price and volume

aud usd weekly technical analysis for 7 to 11 march 2016

aud usd weekly technical analysis for 7 to 11 march 2016

Aud usd pair this week closed with almost 5% gains. This is whooping weekly gain for Aussie after long time. This week move is trend breakout on price as well as volume suggesting sentiment change towards Aussie vs. dollar.     This is start of fresh rally and monthly chart suggest this rallied target at 0.78 to 0.82. For short to medium term trader’s strategy now remain as buy on dips for targets 0.78 and 0.80.     On downside support zones are 0.73 and 0.71 and remain as stop loss levels for short to medium term investors.

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Pramod Baviskar

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