AUD/USD Price Prognosis: Aussie jumps to 50-hour SMA, prints double bottom on 1H

  • AUD/USD recovers to key hurdle as S&P 500 futures soar from session lows. 
  • The pair has printed a double bottom pattern on the hourly chart.

The AUD/USD pair has recovered to the 50-hour easy bright average (SMA) of 0.6872 from the session low of 0.6850, monitoring the sure turn within the S&P 500 futures. 

FOREX SIGNALS

With the soar from session lows, the pair has established a double bottom pattern on the hourly chart with the neckline resistance at 0.6875. 

Acceptance above that level would verify the breakout and originate the doorways to 0.6905 (goal as per the measured switch methodology). Extra gains, however, would possibly perchance well perchance perchance dwell elusive, because the rising alternative of coronavirus conditions within the US and various formula of the sector will seemingly cap the upside within the stock markets. 

The S&P 500 futures, which maintain been down practically 0.5% in early Asia, are actually reporting a 0.15% accomplish. The futures had gapped decrease, pushing AUD/USD appropriate down to 0.6850 as worldwide virus conditions rose above 10 million over the weekend. 

Hourly chart

AUD/USD Price Prognosis: Aussie jumps to 50-hour SMA, prints double bottom on 1H

Pattern: Bullish above 0.6875

Technical ranges

AUD/USD

Overview
As of late final stamp 0.6869
As of late Every single day Replace 0.0003
As of late Every single day Replace % 0.04
As of late each day originate 0.6866
 
Traits
Every single day SMA20 0.6903
Every single day SMA50 0.6653
Every single day SMA100 0.6503
Every single day SMA200 0.6667
 

Stages
Outdated Every single day High 0.6897
Outdated Every single day Low 0.6839
Outdated Weekly High 0.6975
Outdated Weekly Low 0.6811
Outdated Monthly High 0.6683
Outdated Monthly Low 0.6372
Every single day Fibonacci 38.2% 0.6861
Every single day Fibonacci 61.8% 0.6875
Every single day Pivot Point S1 0.6838
Every single day Pivot Point S2 0.681
Every single day Pivot Point S3 0.678
Every single day Pivot Point R1 0.6895
Every single day Pivot Point R2 0.6925
Every single day Pivot Point R3 0.6953

 

  USD Weekly Forecast (Feb. 24 – 28)

 

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