AUD/USD chart - Trading View
AUD/USD is extending gains for the 5th straight session, bias remains strongly bullish.
The major extends upside in 'Rising Channel' pattern and is currently testing channel top resistance at 0.6980.
110W EMA offers stiff resistance at 0.6936. Decisive break above 110W EMA and Channel top will see upside resumption. Next bull target lies at 0.7184.
Overbought oscillators will warrant some caution. Inverted Hammer on the hourly charts is likely to pull back prices.
Break below 21H EMA will drag prices lower. Dip till 110H EMA at 0.6759 then likely. Major weakness only below 200H MA (0.6660).
Major Support Levels: 0.6786 (5-DMA), 0.6710 (55W EMA), 0.6656 (200-DMA)
Major Resistance Levels: 0.6936 (110W EMA), 0.7016 (Upper W BB), 0.7184 (61.8% Fib)
