​​Technical Analysis Of The DAX 40 As It Recovers From Thursday's Low While The AUD/USD Rally Stalls As The Price Of Copper Continues To Advance.

(MENAFN- DailyFX (IG)) ​DAX 40 recovers from Thursday's low

​The DAX 40 is seen consolidating below this week's 24,164 spike high but has managed to recover from Thursday's 23,673 low with the 18 March high at 23,957 being in sight.

​Further up sits the 10 March high at 24,061 which may also be reached.

​Short-term outlook: bullish while above the 9 April 23,673 low

​ Medium-term outlook: bullish while above the 2 April low at 22,678

DAX 40 daily candlestick chart ​Source: TradingView ​AUD/USD rally takes a breather

AUD/USD's ​ sharp advance from its late March $0.6834 low has taken it to this week's $0.7095 high, right to the March-to-April resistance line which caps for now.

​If overcome, the February highs at $0.7136-to-$0.7147 may be reached, and probably also the March peak at $0.7187.

​Minor support is seen along the 55-day simple moving average (SMA) at $0.7023.

​Short-term outlook: bullish while above the 6 April $0.6877 low

​Medium-term outlook: bullish while above the 30 March low at $0.6834

AUD/USD daily candlestick chart ​Source: TradingView ​Copper price continues to rise

​The price of Copper continues to gradually advance from its $5.2463 four-month March low, but is seen losing upside momentum around its 55-day simple moving average (SMA) at $5.7484.

​A rise and daily chart close above this week's high at $5.8060 high is needed for the 16 March high at $5.8585 to be hit next.

​Good support is now found between the February-to-March lows at $5.6563-to-$5.5640.

​Short-term outlook: bullish while holding above the 7 April $5.5385 low

​Medium-term outlook: bullish while trading above the 22 March $5.2463 low, failure there would turn the forecast bearish, targeting the $5.0000 region

Copper daily candlestick chart ​Source: TradingView

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