AUDUSD merging in a slim range in FX market
1/22/2018 12:48:17 PM
The AUDUSD pair tried for a stable directional bias and was seen merging in a slim trading band, just below the key 0.8003 psychological mark.
Immediate support is fixed near 0.7967 level and is thoroughly followed by support near the 0.7944 area, which if broken could drag the pair back below the 0.7910 handle near its next support near 0.7863 area.
On the upside, constant move beyond the 0.8003 handle might keep on to provoke some fresh supply near the 0.8033 area, above which the pair is probable to aim towards reclaiming the 0.8105 handle.
FOREX market analysis by FxErvin.