AUD/USD’s path of least resistance is to the upside. The spot charts symmetrical triangle breakout on hourly sticks. A test of 0.70 likely, as focus shifts to US Services PMI, RBA. AUD/USD broke the recent 50-pips range trade to the upside on Monday, helped by the risk-on market mood, as the global stimulus hopes overshadowed the coronavirus and Australian-Sino concerns. Looking at the hourly chart, the spot has confirmed a symmetrical triangle breakout in early Asia, having pierced through the falling trendline (pattern) resistance at 0.6943. The bulls now aim for the pattern target of 0.6995 in the week ahead, in absence of healthy upside barriers. On the flip side, the 0.6944/43 level will limit any pullbacks, as the falling trendline resistance-turned-support and bullish 21-hourly Simple Moving Average (HMA) coincide at that level. Further south, the confluence of the 50-HMA and the rising trendline (pattern) support at 0.6936/33 will be tested. A break below the latter will trigger a fresh decline towards the upward sloping 100-HMA at 0.6914 while the horizontal 200-HMA at 0.6897 will be the level to beat for the bears. AUD/USD hourly chart AUD/USD additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index offered, challenges 97.00 ahead of ISM FX Street 3 years AUD/USD’s path of least resistance is to the upside. The spot charts symmetrical triangle breakout on hourly sticks. A test of 0.70 likely, as focus shifts to US Services PMI, RBA. AUD/USD broke the recent 50-pips range trade to the upside on Monday, helped by the risk-on market mood, as the global stimulus hopes overshadowed the coronavirus and Australian-Sino concerns. Looking at the hourly chart, the spot has confirmed a symmetrical triangle breakout in early Asia, having pierced through the falling trendline (pattern) resistance at 0.6943. The bulls now aim for the pattern target of 0.6995 in the week ahead,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
