Chart - Courtesy Trading View
Technical Analysis:
GMMA Indicator
- Major and minor trend has turned bullish on the hourly charts
- Minor trend is showing initial signs of bullishness
Ichimoku Analysis
- Price action is below the daily and weekly cloud
Oscillators
- Stochs and RSI show a bullish rollover from oversold levels
Bollinger Bands
- Bollinger bands show high volatility and scope for more upside
Major Support Levels: 0.7105 (nearly converged 5-DMA and 200H MA), 0.7051 (38.2% Fib)
Major Resistance Levels: 0.7185 (200-week MA), 0.72
Summary: AUD/USD recovery finds stiff resistance at 0.7185. Watch out for decisive break above for further gains. Major trend is still bearish. Bullish continuation only above daily cloud and 200-DMA.
