#AUDUSD @ 0.62944 bounced higher, resistance aligns around the 0.64 level – OCBC
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The aussie rebounded sharply amid a broad USD pullback. Economists at OCBC Bank note that resistance level aligns around the 0.64 area.
“Signs of bullish divergence on MACD while RSI has moderated and turned higher from near-oversold conditions.”
“Resistance at 0.6402 (23.6% fibo retracement of Aug high to Oct low), 0.6477 (21DMA) levels.”
“Support at 0.6170. Break below puts next support at 0.6116 and 0.6030 levels.”
See – AUD/USD: A break below 0.60 this year is entirely possible – ING
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