20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
AUD/USD Current Price: 0.7763
- The greenback accelerated its decline as Wall Street recovered ahead of the close.
- AUD/USD keeps recovering, steeper advance likely once above 0.7770.
The AUD/USD pair recovered towards the 0.7760 price zone, as the dollar came under selling pressure on Wall Street’s gains. The aussie was on the winning side for most of the day, as the market’s mood improved, although a certain caution prevailed. The greenback was pressured by rising US Treasury yields, while the positive tone of equities provided a late boost. The Australian macroeconomic calendar has nothing to offer these days.
AUD/USD Short-Term Technical Outlook
The AUD/USD pair is slowly recovering ground and its bullish stance. In the 4-hour chart, it has recovered above its 20 SMA, which remains flat. The longer moving averages maintain their bullish stance below the current level. Technical indicators advance, the RSI around 55 and the Momentum still below its midline, anyway favoring additional gains, mainly on an advance beyond 0.7770 the immediate resistance.
Support levels: 0.7670 0.7620 0.7580
Resistance levels: 0.7720 0.7770 0.7815
View Live Chart for the AUD/USD
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!