FxWirePro: AUD/USD downside capped by 5-DMA, gains till 0.7330 likely
Wednesday, December 30, 2015 11:05 AM UTC
- Overnight rebound in crude supported commodity currencies such as the Australian dollar on Wednesday.
- AUD/USD slipped to 0.7271 after rising to 0.7303 overnight, its highest since Dec. 10.
- Techs show scope for further gains. RSI is at 56, points north with further room to run, 5&10-DMA have shown a bullish crossover.
- Downside in the pair was capped by 5-DMA at 0.7267, which is strong support on the downside.
- On the flipside resistance is seen at 0.7303 (Dec 29 high and day's high till now), breaks above can see the pair at 0.7330.
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