Chart - Courtesy Trading View
Technical Analysis: Bias Neutral
GMMA Indicator
- Major and minor trend are bullish on the daily charts
Ichimoku Analysis
- Price action is testing daily cloud resistance
- Break above will fuel further gains
Oscillators
- Stochs and RSI show momentum is bullish
- Stochs are on verge of bearish rollover from overbought levels
Bollinger Bands
- Bollinger bands are spread wide apart, suggest volatility is high
Major Support Levels: 0.7208 (21-EMA), 0.7192 (20-DMA)
Major Resistance Levels: 0.7237 (55-EMA), 0.73 (110-EMA)
Summary: Tepid risk appetite, cautious mood ahead of the key US data/events challenge momentum.
AUD/USD recovery after Monday's plunge has found resistance at 55-EMA and daily cloud. Breakout above will fuel further upside. Overbought oscillators may see some pullbacks.
