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- AUD/USD Price Analysis: Bull cross, firmer RSI direct buyers toward 0.7230 hurdle
AUD/USD Price Analysis: Bull cross, firmer RSI direct buyers toward 0.7230 hurdle
- AUD/USD stays on the front foot around intraday high, stretches three-week rebound from yearly low.
- The bullish signal from moving average cross, upbeat RSI keeps buyers hopeful.
- Bears need validation from three-week-old support for fresh entries.
AUD/USD flirts with an intraday high of 0.7215 as bulls take a breather heading into Monday’s European session.
In doing so, the Aussie pair remains firmer inside a monthly symmetrical triangle following a three-week uptrend.
Also keeping the AUD/USD buyers hopeful is the near 60 level of the RSI and bull cross of 50-SMA over the 200-SMA.
That said, the quote currently heads to the stated chart pattern’s upper limit, surrounding 0.7230, a clear break of which will challenge the monthly high of 0.7250.
However, 0.7280 and January’s peak near 0.7315 could test the AUD/USD bulls afterward.
Meanwhile, pullback moves remain elusive beyond the stated SMA, around 0.7165-60 at the latest, a break of which will highlight the triangle’s support line, close to 0.7135, for AUD/USD sellers.
In a case where AUD/USD prices drop below 0.7135, the 0.7100 threshold and 0.7085 may entertain the bears before directing them to the monthly low near 0.7050.
AUD/USD: Four-hour chart
Trend: Further upside expected
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