AUD/USD’s daily chart shows a major bull cross. The 4-hour chart shows an inverse head-and-shoulders pattern. AUD/USD is better bid at press time and could soon test the psychological hurdle of 0.72, as the daily chart is showing a bullish cross of the 100- and 200-day simple moving averages (SMAs). In addition, the daily chart relative strength index is hovering in the bullish territory above 50 and the 4-hour chart shows an inverse head-and-shoulders breakout. A move above 0.72 would expose the recent high of 0.7243 reached on Aug. 7. On the downside, the higher low of 0.7109 created on Aug. 12 is the level to defend for the bulls. A violation there would open the doors for a sell-off to the 50-day SMA, currently at 0.7006. The pair is trading at 0.7187 at press time, representing a 0.24% daily gain. Daily chart Trend: Bullish Technical 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 Germany’s Scholz proposes EUR10 billion job subsidy extension plan FX Street 2 years AUD/USD's daily chart shows a major bull cross. The 4-hour chart shows an inverse head-and-shoulders pattern. AUD/USD is better bid at press time and could soon test the psychological hurdle of 0.72, as the daily chart is showing a bullish cross of the 100- and 200-day simple moving averages (SMAs). In addition, the daily chart relative strength index is hovering in the bullish territory above 50 and the 4-hour chart shows an inverse head-and-shoulders breakout. A move above 0.72 would expose the recent high of 0.7243 reached on Aug. 7. On the downside, the higher low of 0.7109 created on… 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.
