AUD/USD faces rejection just shy of the 0.7100 level. Hourly RSI remains in bullish territory. Bulls to retain control while above critical support at 0.7065. AUD/USD stalls its corrective bounce just shy of the 0.71 barrier, as the bulls take a breather before the next push higher. The spot is now consolidating the gains, holding above the critical support at 0.7065, as observed in the hourly chart. That level is the confluence of the rising trendline support, 21 and 100-hourly Simple Moving Averages (HMA). A breach of the last could call for a test of the horizontal 50-HMA at 0.7053. A daily closing below the 100-day Simple Moving Average (DMA) at 0.7018 is needed to revive the downside momentum. Alternatively, acceptance above 0.7100 could trigger a fresh rally towards the downward-sloping 200-HMA at 0.7166. The hourly Relative Strength Index (RSI) has turned flat (at 59.26) but holds well above the midline, allowing for an additional bounce. 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 World Bank forecasts Asia’s 2020 GDP at weakest in over five decades amid coronavirus pandemic FX Street 2 years AUD/USD faces rejection just shy of the 0.7100 level. Hourly RSI remains in bullish territory. Bulls to retain control while above critical support at 0.7065. AUD/USD stalls its corrective bounce just shy of the 0.71 barrier, as the bulls take a breather before the next push higher. The spot is now consolidating the gains, holding above the critical support at 0.7065, as observed in the hourly chart. That level is the confluence of the rising trendline support, 21 and 100-hourly Simple Moving Averages (HMA). A breach of the last could call for a test of the horizontal 50-HMA at 0.7053. A… 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.
