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AUDUSD Technical analysis 01.12.2015

AUDUSD

The pair got some support on the wake of Australian GDP rise and will probably try to reach the higher range of the "pennant" figure 0.7300 after 0.7280 level is passed.

The price is higer than the upper Bollinger band, higher than SMA5 and SMA14. RSI is under overbought zone. Stoch are already there.

Trading recommendations: Sell the pair while it is rising from 0.7300 level with a local target of 0.7210 keeping in mind that it can fall till 0.7170.

Author: admin
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