AUD/USD Bullish POC Zone Should Provide Continuation

August 02, 2017 12:18

The AUD/USD has been in an uptrend with strong rejections off the important POC zones. At this point, we can see a POC zone within 0.7950-70 (trend line, D L3, 61.8,EMA89). If the zone holds, the price should ideally go above 0.7972 (EMA89) and proceed further towards 0.8000 and 0.8020. Break of 0.8025 should target 0.8050-65 zone. However if the price drops below 0.7940, we might see 0.7915 ( D L4/ATR pivot).

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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