- Analytics
- News and Tools
- Market News
- AUD/USD Price Analysis: Further upside hinges on 0.7175 breakout
AUD/USD Price Analysis: Further upside hinges on 0.7175 breakout
- AUD/USD remains above 200-EMA for the first time in three weeks.
- Bullish MACD signals add to the upside bias but monthly resistance line tests buyers.
- Short-term support line to test bears during fresh declines.
AUD/USD remains above the 200-EMA for the first time since late January, despite a recent pullback from a fortnight high ahead of Wednesday’s European session. That said, the Aussie pair eases to 0.7157, up 0.15% intraday at the latest.
Not only the pair’s ability to stay beyond 200-EMA, bullish MACD signals and a one-week-old upward trajectory, portrayed by an immediate support line, also keep AUD/USD buyers hopeful.
However, a descending resistance line from January 13, near 0.7175, guards the quote’s immediate upside ahead of directing it to the 0.7200 threshold.
During the AUD/USD upside past 0.7200, highs marked during January 20 and January 13, respectively around 0.7280 and 0.7315, will lure the buyers.
Alternatively, the weekly support line around 0.7130 will challenge intraday sellers of the pair during the fresh declines.
Also acting as a downside filter is a two-week-long rising trend line, close to 0.7095, a break of which will welcome AUD/USD sellers.
AUD/USD: Four-hour 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
