AUD/USD Bullish POC Zone Should Provide Continuation

AUD/USD Bullish POC Zone Should Provide Continuation

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)
AUD/USD Bullish POC Zone Should Provide Continuation
AUD/USD Bullish POC Zone Should Provide Continuation

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

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Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.