AUDUSD is another pair reeling from a failure at resistance

AUDUSD walking the same path as cable and the euro

• AUD mildly bid on better buildings data through Asia but came short of yesterday’s highs
• Topside failure around 0.7870 is one failure too many.
• 61.8 fib of Sep/Dec swing down remains untested at 0.7886
• Strong offers noted into 0.7890/0.7900. Stops above
• Could be a second week holding below 200 WMA at 0.7859
• Large option buying seen yesterday of 7900 calls exp 9th Feb. Poss RBA related (meeting 6th Feb). Expiries light today.
• Intraday support broken at 0.7825/30 now trying to become resistance. More likely building at 0.7845/50 (100 & 55 H1MA’s 0.7844/47) & 0.7860
• Next support into 0.7818 (200 H1MA) 0.7810 (55 H4MA at 0.7811) and 0.7800/05
• Stops noted on a break of 0.7800 with next support at 0.7775/80. 100 DMA 0.7777

AUDUSD H4 chart

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Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

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