AUD/USD chart - Trading View
AUD/USD was trading 0.34% higher on the day at 0.6553 at around 03:50 GMT, risk reset buoys the antipodeans.
In its first-quarter monetary policy report published on Sunday, the People’s Bank of China (PBOC) said it lowered interest rates on its standing lending facility (SLF) in April.
United States inflation data due on Tuesday and Australian unemployment figures due on Thursday will be major catalysts for price action.
Technical indicators are bullishly aligned. GMMA indicator shows minor trend is strongly bullish, while major trend is turning bullish.
Momentum studies are bullish. Volatility is rising as evidenced by widening Bollinger bands.
Price action has broken above 110-EMA and is on track to test 200-DMA at 0.6670.
200-DMA breakout will open upside. On the flipside, retrace below 55-EMA negates bullish bias.
Major Support Levels:
- S1: 0.6501 (110-EMA)
- S2: 0.6481 (5-DMA)
- S3: 0.6398 (55-EMA)
Major Resistance Levels:
- R1: 0.6670 (200-DMA)
- R2: 0.6715 (Channel top)
- R3: 0.6860 (88.6% Fib)
Summary: Technical studies show the pair is poised for further gains. Scope for test of 200-DMA.
Guidance: Good to go long on dips around 0.6530, SL: 0.6470, TP: 0.66/ 0.6660


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