The Australian Dollar appears to have reach a top post its double top attempt around 0.7606 on 4H chart. With fading volumes, and strength (RSI) indicating buying interest at current price, the $AUDUSD is set for a reversal from January highs. Further trend of Low - High - Higher Low - Higher High from 10/Jan to 22/Jan is broken by Lower Highs - Lower Lows in last couple of days. 50-SMA followed closely and reversal towards 100-SMA is nearing. Take a short trade at current le
$AUDUSD: Upside momentum held post #CHINA #GDP data. Year on Year GDP numbers came in above expectations. US - Presidential Inauguration could have an overall upside or else downside effect on the US dollar impacting major currencies.
Buy Aussie Dollar at current price (0.75816), Take Profit around 0.760, Stop Loss around 0.740. Immediate Resistance at 0.76730 (higher highs in second half of 2016) following which Resistance will be found at 0.77790 (Oct high)