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AUD/USD chart - Trading View
AUD/USD was extending range trade for the 3rd straight session, bias neutral.
The pair was trading largely unchanged at 0.7275 at around 04:30 GMT, after closing 0.09% lower in the previous session.
The Australian dollar shrugs off upbeat China trade numbers, trades directionless amid an otherwise light calendar.
Focus now on the Reserve Bank of Australia's policy decision as Australia’s downbeat GDP has pushed several key banks, as well as economists, to call out RBA’s rate cut.
Overbought oscillators conditions and 'Bearish Divergence' keep scope for weakness. Major trend in the pair is bullish.
Strong support seen upto 0.7245 (21-EMA and 200W-MA). Retrace below will plummet prices. Dip till 55-EMA and then daily cloud likely.
