AUD/USD flirts with weekly tops above 0.7230. Dollar dumping remains the main driver for aussie’s advance. Technical indicators signal further scope for the upside. AUD/USD is sitting at weekly highs near 0.7230 region in the European session this Tuesday, benefiting from notable US dollar supply across its main peers. The aussie shrugs-off the tepid market mood and negative S&P 500 futures amid resurfacing concerns on the Australian-Sino trade front. The technical indicators turn in favor of the bulls, suggesting more scope for the upside. The spot will chart out a rounding bottom breakout above 0.7241 horizontal trendline resistance. The golden cross, 50-hourly Simple Moving Average (HMA) crossing above the 200-HMA, adds credence to the upside bias in the spot. The next upside target lies at 0.7285, the February 2019 high. Meanwhile, any pullbacks will find strong support at the bullish 21-HMA at 0.7210, below which the 50-HMA at 0.7189 will be put to test. All in all, the upside appears more compelling amid bullish hourly Relative Strength Index (RSI), now trading at 65.00. 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 China’s Foreign Ministry: Firmly oppose the US suppression of Huawei FX Street 2 years AUD/USD flirts with weekly tops above 0.7230. Dollar dumping remains the main driver for aussie’s advance. Technical indicators signal further scope for the upside. AUD/USD is sitting at weekly highs near 0.7230 region in the European session this Tuesday, benefiting from notable US dollar supply across its main peers. The aussie shrugs-off the tepid market mood and negative S&P 500 futures amid resurfacing concerns on the Australian-Sino trade front. The technical indicators turn in favor of the bulls, suggesting more scope for the upside. The spot will chart out a rounding bottom breakout above 0.7241 horizontal trendline resistance. The golden… 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.
