Please don't take this as a signal this is just my analysis. Currently sat in this years demand zone and bottom of RSI.
Fundamentals - Be aware of the Australian Interest Rate decision (Tuesday 07/05/2019) which may see a break of 77.600 to the low side if it is bad news, or will bolster the long opportunity if it is good.
Technical - Could potentially drop as low as 77.600 area due to banks stop hunting (please look it up if you don't know what I mean - you'll thank me later) and then bounce to 78.950 resistance OR 79.590 if this is broken.
I will be waiting for break of this zone for a buy. TP will be at 78.950 due to a strong mid-range resistance/support historical level. SL around 77.600 area.
Fundamentals - Be aware of the Australian Interest Rate decision (Tuesday 07/05/2019) which may see a break of 77.600 to the low side if it is bad news, or will bolster the long opportunity if it is good.
Technical - Could potentially drop as low as 77.600 area due to banks stop hunting (please look it up if you don't know what I mean - you'll thank me later) and then bounce to 78.950 resistance OR 79.590 if this is broken.
I will be waiting for break of this zone for a buy. TP will be at 78.950 due to a strong mid-range resistance/support historical level. SL around 77.600 area.