FX.co ★ Technical analysis and trading recommendations for the AUD/USD currency pair as of January 18, 2017

The AUD/USD currency pair demonstrates to us an intensive upward movement, passing in total for six weeks, more than 500 points, without any significant kickbacks. Now, we see how the price slowed near the psychological value of 8000, forming two-digit candles like "Doji". Probably assume that the correction is not far off, and already in the values of 0.8030 / 0.8100. It is expected to build up short positions. Just at these levels, we see the available resistance, which can play into the hands of sellers.

Key levels

Resistance - 0.8000 (+/- 50p); 0.8120.

Support for 0.7800; 0.7630

Attention: Forecasts are not a direct guide to action!