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AUD/USD Technical Analysis

Published on: 12/02/2018

The dollar remains stable at the moment.

The dollar index is trading above the 90.00 mark, and oil prices remain at strong levels. Today we expect the monthly release of the OPEC report.

Today is not rich in news and we do not expect any macroeconomic indicators.

Given the technical indicators, we can see a decrease in demand for the Australian dollar and the formation of a downward trend for this pair.

Our pair has now found a resistance level near the MA (21) and it is likely that after the test of this level it will go down again. The MACD is also in the negative zone.

We advise you to look for points to enter short positions near the level of 0.7860 and set the take-profit near the level of 0.7730.

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