I am a dollar bull for the year’s anticipated additional interest rate hikes which is suppose strengthen the dollar. No specific fundamental data that can affect the currency today.

AUDUSD Daily

Market and price is flat. Price currently at strong resistance @ 0.77315. Monthly pivots opened at MM3 and reached its target at MM1 and has since retraced past MPP and to MR1 where it found strong resistance. Stochastic at overbought. I expect price to drop from that resistance.

AUDUSD H4

Market is bullish (EMA 21 above 55) and price also looking bullish (EMA 21 above 55). Price falling from bouncing at that strong resistance at 0.77315. Price open the weekly pivots on WM3 which is supposed to reach WM1 by end of the week, according to the Pivot points theory. Stochastic moving from overbought to the downside.

AUDUSD H1

Market and Price are flat and price still falling from that resistance. Daily pivots started at DM3 with the target of DM1. I expect the market to be bearish and I will wait for a pull back to the broken support at 0.76985.

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