Support & Resistance Levels – AUD/USD - Forex News by FX Leaders

Support & Resistance Levels – AUD/USD

Posted Monday, May 15, 2017 by
Skerdian Meta • 2 min read

In the last market update, we posted the support and resistance levels for NZD/USD. We already opened a forex signal at the first resistance level. This is because it had already risen too far too fast and the retrace higher is coming to an end, in my opinion.

Now let´s see where these levels stand in AUD/USD and hopefully pick a good place to open buy/sell forex signal.

AUD/USD

Resistance  Support

1 – 0.7440-50 (strong – 200 SMA on H1 chart)                1 – 0.7420 (mediumlast week´s high)

2 – 0.7490-0.75 (strong – 100 SMA on H4 chart)             2 – 0.74 (strong – 50 SMA on H4 chart)

3 –0.7525 (strong – 200 SMA on H4 chart)                      3 – 0.7470 (mild – 100 SMA on H1 chart)

4 – 0.7570 (strong – 200 SMA on daily chart)                 4 – 0.7330-40 (strong – last week´s low)

These are the support and resistance levels for AUD/USD. I´m itching to sell this forex pair right now at 0.7440 and I might do so. Although, we already have two sell signals in GBP/USD and NZD/USD, so another signal in the same direction would increase the risk substantially for us. But, let´s watch the price action for a while and see if it gives us a few clues.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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