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Mar 13 - 01:55 PM

AUD/USD - Bullish Tech Signals Are In Place

By Christopher Romano  —  Mar 13 - 11:50 AM
  • AUD/USD dipped lower overnight, pair neared the 55-DMa but buyers emerged

  • Rally ensued which is a bullish signals after a doji formed Tuesday

  • Daily chart shows a bull flag pattern formed during recent consolidation

  • Rising daily, monthly RSIs imply upward momentum to reinforce bull signals

  • 0.6660/70 zone where recent daily highs, daily cloud top sit is resistance

  • Break of that zone may trigger stop loss buying, bring 0.6840/70 into focus

  • US Feb. PPI, retail sales & weekly claims reports are looming data risks

  • If data leads to Fed lean dovish in future AUD/USD may rally significantly

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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