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FxWirePro: AUD/USD upside halts at major trendline resistance at 0.7636, focus on RBA cash rate announcement

AUD/USD rally in response to upbeat Australian economic releases halts at stiff trendline resistance at 0.7636. The immediate focus now remains on the RBA cash rate announcement due out shortly. The pair has broken 20-DM…

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FxWirePro: AUD/USD upside halts at major trendline resistance at 0.7636, focus on RBA cash rate announcement
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  • AUD/USD rally in response to upbeat Australian economic releases halts at stiff trendline resistance at 0.7636.
     
  • The immediate focus now remains on the RBA cash rate announcement due out shortly.
     
  • The pair has broken 20-DMA at 0.7615 and Techs are heavily bullish.
     
  • Major support levels - 0.7615 (20-DMA), 0.76, 0.7581 (session low).
     
  • Major resistance levels - 0.7636 (trendline), 0.7655 (Aug 23 high), 0.7691 (Aug 15 high).
    ​

Recommendation: Go long on break above 0.7636, SL: 0.7610, TP: 0.7690/ 0.77
 

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