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AUD/USD chart - Trading View
AUD/USD was trading largely muted at 0.6366 at around 09:15 GMT, with session high at 0.6381 and low at 0.6337.
Price action hovers around 55-EMA and decisive break above will confirm upside bias.
The pair has edged higher from session lows as it consolidates break out of daily cloud.
RSI is above 50 and biased higher and Stochastics show a bullish momentum.
Analysis of the GMMA shows major trend is neutral and minor trend is showing a bullish shift.
Energy rout and risk-off market sentiment keeping the major subdued. Range trade could extend for now.
Decisive breakout at 55-EMA could change near-term dynamics. Next hurdle lies at 61.8% Fib at 0.6455 ahead of 110-EMA at 0.6506.
5-DMA is immediate support at 0.6334. Break below 21-EMA will see downside resumption.
