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11.02.202216:32 Forex Analysis & Reviews: Trading signals for AUD/USD on February 11-14, 2022: sell below 0.7158 (21 SMA - 200 EMA)

Exchange Rates 11.02.2022 analysis

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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*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Dimitrios Zappas,
Analytical expert of InstaSpot
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