AUDUSD Chart analysis

FOUR HOUR CHART

DAILY CHART

• AUDUSD Four hour chart shows price near resistance line. Four hour chart also shows price getting resisted at the cloud. So bullish traders need a cloud break for a bigger up move to happen.
• Daily chart shows a bull flag like correction. Breakout above the resistance line and 20 day SMA should result in an up move towards 1.0660 at least.
• Getting resisted here at 20 SMA should take this pair towards the support line of the flag.

AMAZON Near 200 SMA

• Price is sustaining above resistance lines and Fibonacci levels. Closing above 200 SMA will keep the upward momentum intact for 205 and 215 levels.
• For bulls price should close above 200 Day SMA.

GOLD Chart Analysis

• Price has to close above the cloud and 23.6% Fibonacci level for a possible trend change in four hour time frame.
• COPPER IN A RANGE
  

COPPER in a Range

• Copper daily chart continue to trade within the range of 3.6838 - 3.9790.
• Weekly chart with fibonacci levels shows price stuck between 50% - 61.8%(Golden ratio). A weekly candle closing outside this range may give the next trending move in copper till then range bound move will continue.

BANK NIFTY Analysis

• Short term support and resistance levels are 10130 and 10590.
• On the downside BN has many crucial support levels so a breakdown below 10130 may not give a trending move, For that bears need the 200 SMA to be broken.
• On the upside closing above 10590 may give good momentum for BN for targets like 10900 and above.
• NIFTY WEEKEND UPDATE