- AUD/USD probes the 100-day average hurdle in Asia.
- That technical line has capped gains twice in the last two weeks.
AUD/USD is again struggling to post a convincing break above the 100-day average, currently located at 0.6535.
The pair failed to close above the key hurdle on Friday, having turned lower from the widely-tracked technical hurdle at the end of April.
As a result, a convincing move above the 100-day average could invite more chart-driven buyers, possibly yielding a rise to 0.6750.
A breakout looks likely as the 14-day relative strength index is reporting bullish condition with an above-50 print. Further, the daily chart shows a bullish higher lows setup. The pair’s reversal lower from the 100-day average on April 30 ended up creating a higher low at 0.6373.
On the lower side, 0.6373 is the level to beat for the bears.
Daily chart
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Trend: Bullish
Technical levels
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