AUD/USD, D1 Technical Analysis Report 16 Jan 2021
D1 chart shows the correction of upward movement. The instrument is trading between the upper and center lines of Bollinger Bands; the indicator cloud is expanded; the uptrend is likely to persist in the medium term. MACD histogram is in the positive zone preserving stable volumes and a steady signal for opening long positions. Stochastic is in the neutral area; the signal line is directed horizontally, without forming a definite signal to enter the market.
Resistance levels: 0.7760, 0.7790, 0.7820.
Support levels: 0.7730, 0.7700, 0.7670, 0.7640, 0.7600.
Long positions may be opened from the level of 0.7770 with target at 0.7820 and stop-loss at 0.7740. Implementation time: 1-3 days.
Short positions may be opened from the level of 0.7720 with target at 0.7670. Stop-loss – 0.7750.