AUDUSD Wave Analysis 17 February, 2021

• AUDUSD reversed from resistance level 0.7800

• Likely to fall to support level 0.7700

AUDUSD recently reversed down from the resistance level 0.7800, strengthened by the upper daily Bollinger Band.

The downward reversal from the resistance level 0.7800 created the daily candlestick reversal pattern Bearish Engulfing – which stated the active wave 2.

Given the strong USD bullishness seen today – AUDUSD is likely to fall further toward the next support level 0.7700.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Next Platinum Wave Analysis 17 February, 2021 »

Previous « ChinaA50 Wave Analysis 17 February, 2021

Published by

The FxPro Tech Analysis Team

Tags: AUDUSD

5 years ago

Gold shines on an anti-fiat thesis
The dollar suffered due to threats to the Fed’s independence. Gold managed to renew its…
The funeral for Gold has been postponed
The Supreme Court, with its scepticism about the legality of tariffs, has allowed the shiny…
Crypto bulls fail to maintain momentum
Crypto market stabilises after decline; Bitcoin rebounds but faces pressure. Mixed investor sentiment and notable…