AUDUSD intraday technical analysis - 16/02/2018

AUDUSD

1.41343 / 1.41353

SUMMARY

Up

TREND

Upward penetration

MA10

Bullish

MA20

Bullish

STOCHASTIC

Overbought

MARKET ANALYSIS

Upwards scenario: If the price holds its momentum on the upside we would expect loss of resistance at 0.7996 (R1) later on today. Any further rise will then bring focus to the next resistance level at 0.8030 (R2) and even higher target at 0.8065 (R3).
Downwards scenario: Progress below the initial support level at 0.7964 (S1) is required to enable bearish potential. Our intraday targets are placed at 0.7929 (S2) and 0.7895 (S3) if the instrument gains downside momentum.

Resistance levels: 0.7996 , 0.8030 , 0.8065

Support levels: 0.7964 , 0.7929 , 0.7895