AUDUSD intraday technical analysis - 11/12/2017

AUDUSD

1.34094 / 1.34103

SUMMARY

Up

TREND

Upward penetration

MA10

Bullish

MA20

Bullish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: AUDUSD initiated correction development from the initial downside structure. Potential to move higher is seen above the next resistance level at 0.7535 (R1). Loss here would suggest next intraday targets at 0.7566 (R2) and 0.7597 (R3).
Downwards scenario: On the other hand, risk of price depreciation is seen below the key support level at 0.7501 (S1). In such scenario we would suggest next initial targets at 0.7470 (S2) and 0.7440 (S3).

Resistance levels: 0.7535 , 0.7566 , 0.7597

Support levels: 0.7501 , 0.7470 , 0.7440