• Will The 0.9200 Handle Hold For The AUDUSD?

    Will The 0.9200 Handle Hold For The AUDUSD?

    The Australian dollar has rallied against the US dollar all the way up to 0.9200 since falling to a low of 0.8900. As you can see from its chart, the 0.9200 marker has previously been tested as a solid resistance. Given this, the aussie may find some selling at this level which may then lead it to fall down in the very near term. If the AUDUSD pair fails to successfully breach the 0.9200 marker and at the same time its recent uptrend line breaks, then the pair may fall down to 0.9125. On the flip side, a successful move above 0.9200 may send it to 0.9275 or even to 0.9300. A presence, however, of a bearish divergence between the price and its stochastics adds to the possibility that the pair may weaken soon.

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