Chart - Courtesy Trading View
Technical Analysis:
- AUD/USD was trading 0.22% higher on the day at 0.6967 at around 08:20 GMT
- Price action has ignored Inverted Hammer on the previous session
- The pair holds above 5-DMA which is biased higher
- Momentum is bullish and volatility is high and rising
- MACD and ADX support upside in the pair, Chikou span is biased higher
Support levels - 0.6952 (5-DMA), 0.6846 (21-EMA)
Resistance levels - 0.7018 (Upper BB), 0.7071 (200-week MA)
Summary: AUD/USD trades with a bullish technical bias. Scope for upside resumption. Bullish invalidation only below 200-DMA.
