AUDUSD intraday technical analysis - 13/08/2018

AUDUSD

1.27565 / 1.27572

SUMMARY

Down

TREND

Downward penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: Medium-term bias remain negative, however upside risk aversion is seen above the resistance level at 0.7320 (R1). Break here would suggest next target at 0.7370 (R2) and any further market strengthening would then be limited to final target at 0.7419 (R3).
Downwards scenario: Next fractal level on the downside at 0.7222 (S1) acts as initial support measure. Penetration below this mark would suggest our lower target at 0.7171 (S2) and then any further weakening would be limited to final support for today at 0.7123 (S3).

Resistance levels: 0.7320 , 0.7370 , 0.7419

Support levels: 0.7222 , 0.7171 , 0.7123