Technical Overview of AUD/USD and GBP/USD Currency Pair

AUD USD

AUD traded higher against USD and closed at 0.6919.

  • AUD/USD hovers tad above opening level.
  • Keeps bullish bias above 200 DMA, Bollinger band 1 support
  • Bollinger uptrend channel coaxes AUD toward 5-mth high 0.6939
  • Asia markets optimistic on upcoming Trump-Xi signing
  • US initial jobless claims ahead expected to show slight ebbing

According to the Analysis, pair is expected to find support at 0.6917and a fall through could take it to the next support level of 0.6914. The pair is expected to find its first resistance at 0.6927 and a rise through could take it to the next resistance level of 0.6930.

GBP USD

GBP traded higher against USD and closed at 1.2960.

  • Tentatively escapes Bollinger downtrend channel top 1.2959
  • Thurs close above that level nullifies bearish chart bias
  • Could set off a relief rally back up to 20 DMA at 1.3081
  • Mild risk-on cues appear as Trump says will sign with Xi
  • Warmer ties will help nudge US and China toward further deals

According to the Analysis, pair is expected to find support at 1.2933 and a fall through could take it to the next support level of 1.2917. The pair is expected to find its first resistance at 1.2987, and a rise through could take it to the next resistance level of 1.3003.

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Author: Mark Burg