The Pair is trading near its Resistance Zone, Pair closing above the zone will be a good buying opportunity in the Pair. The Pair has been trading below the zone for the past three month, Thrice the pair has touched the zone but was not able to sustain that zone. A close above the zone can be a good breakout at this moment with a SL just below the Resistance Zone.

The Pair is trading above the 50 and 100 day EMA, the pair took support near the EMA's and a bounce is seen in the pair. The 200 day EMA of the pair is placed just above the Resistance zone which can act as a Resistance in the coming period.

A breakout above the Resistance zone and EMA would be a strong signal to buy the pair.

RSI above 60 during the breakout will strengthen the buy.

Advice : Buy the Pair if it is able to close above the Resistance Zone

AUD/USD

KUNAL KAMBLE

Mar 02 2022