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AUD/USD pair is trading just below the level 0.7158 (200 EMA) after reaching a low of 0.7108 in the European session.
The US Consumer Price Index (CPI) increased more than expected in January, reaching the strongest level of 7.5% in five decades. This data gave strong volatility to the Australian dollar reaching the high of 0.7247.
Currently, we can see that the AUD has broken the uptrend channel and is bouncing towards the resistance zone of 200 EMA and 21 SMA which has now become a strong resistance.
If the Aussie consolidates below the 200 EMA in the next few hours, it could resume its bearish move towards the support 4/8 Murray at 0.7080.
Conversely, a daily close above 0.7170 could continue its uptrend towards 6/8 Murray and up to yesterday's high of 0.7247.
The technical reading of the eagle indicator shows that it has reached the overbought level in the zone 95-point. This is a clear sign that the AUD/USD pair could have a correction in the coming days towards the psychological level of 0.70.
Our trading plan for the next few hours is to wait for a pullback towards 0.7158 and a consolidation below this level to sell. Targets will be at 0.7081 (4/8) and 0.7019 (3/8). The eagle indicator supports our bearish strategy.
Support and Resistance Levels for February 11 - 14, 2022
Resistance (3) 0.7256
Resistance (2) 0.7202
Resistance (1) 0.7165
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Support (1) 0.7125
Support (2) 0.7075
Support (3) 0.7019
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Scenario
Timeframe H4
Recommendation: sell below
Entry Point 0.7158
Take Profit 0.7080; 0.7019
Stop Loss 0.7195
Murray Levels 0.7202(6/8), 0,7141(5/8), 0.7080 (4/8), 0.7019 (3/8)
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*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
