AUDUSD eases from 0.80 zone, pressured by stronger greenback and lower copper price
The Aussie dollar eases on Tuesday after repeated failures to sustain break above 0.80 barrier with 0.8030 zone topping recent upside attempts.
Stronger greenback on deal of US policymakers to end government’s shutdown and weaker copper price added on fresh pressure on Aussie.
Fresh easing pressures strong support at 0.7950 (rising 10SMA / Fibo 38.2% of 0.7807/0.8038 upleg, reinforced by top of thickening 4-hr cloud), violation of which would signal deeper correction.
Daily RSI turned south and is emerging from overbought territory, generating bearish signal.
Extended dips could travel to 0.7895/82 (strong supports provided by Fibo 61.8% of 0.7807/0.8038 / rising 20SMA), where correction should find ground to keep overall bulls in play for fresh probes through at 0.80 and eventual attack at key barrier at 0.8124 (2017 high, posted on 08 Sep).
Res: 0.8029; 0.8038; 0.8065; 0.8102
Sup: 0.7950; 0.7936; 0.7895; 0.7882