The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce for the second consecutive session from the lowest since October 16 against the US dollar, following the developments and economic data that it had reported on the Australian economy and …
The currency pair is trading in the support level range of 141.15. Stochastic Oscillator indicator signals oversoldness. Breaking through the price pivot zone of 142.35 will result in the formation of an ascending pattern 123.
Trading recommendations:
Buy above 142.35.
Stop loss – 141.15.
Target levels: 143.20; 144.40.
The support level of 254.00 held back sellers. Awesome Oscillator indicator shows a bullish divergence, and Stochastic Oscillator signals oversoldness. Breaking through the resistance level of 258.50 will result in the formation of an upward pattern 123.
Trading recommendations:
Buy above 258.50.
Stop loss – 254.00.
Target levels: 261.78; 270.70.
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