- Analytics
- News and Tools
- Market News
- AUD/USD Price Analysis: Bulls brace for 0.7530 at highest levels since July
AUD/USD Price Analysis: Bulls brace for 0.7530 at highest levels since July
- AUD/USD refreshes multi-day top on crossing the key resistance zone.
- Horizontal area from April lures the buyers but RSI conditions become a challenge.
- Convergence of 100-DMA, monthly support line restricts short-term downside.
AUD/USD takes the bids around 0.7485, up 0.15% intraday to poke the highest levels since July 13 during early Wednesday.
Following its failure to provide a daily closing beyond a four-month-old horizontal resistance, the Aussie currency pair again pierces the key hurdle to the north surrounding 0.7480-85.
It should be noted, however, that the RSI conditions pose a serious threat to the pair’s further advances should it fail to cross the 0.7485 mark on a day’s close.
In a case where the AUD/USD bulls manage to cross the 0.7485 resistance, an area including multiple levels marked since early April, near 0.7530 will be on their radars ahead of the 200-DMA level of 0.7566.
Alternatively, pullback moves remain less worrisome until staying beyond the 0.7400 threshold comprising 100-DMA and a three-week-long rising support line.
Overall, AUD/USD remains in the uptrend but the bulls seemed to have tired of late.
AUD/USD: Daily chart
Trend: Further upside expected
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
