AUD/USD chart - Trading View
Technical Analysis: Bias Bearish
- AUD/USD opens the week on a positive note, makes a bullish gap open
- Price action is extending break above 200W MA and daily cloud
- Chikou span is biased higher on the daily and weekly charts suggesting further upside
- Oscillators are turning bullish on the daily charts and support strong upside on the weekly charts
- Bullish RSI divergence on the daily charts supports gains, rising volatility to drive prices higher
Support levels - 0.7239 (200W MA), 0.7233 (5-DMA), 0.7142 (55-EMA)
Resistance levels - 0.73 (Psychological level), 0.7413 (2020 high), 0.7575 (78.6% Fib)
Summary: AUD/USD is poised for upside in the near-term. Scope for test of 0.74 levels. Retrace below 200W MA to negate bullish bias.
