AUD/USD looks to extend the bounce above 0.7300. Bullish SMA crossover on the hourly chart suggests more gains. Hourly RSI turned south but remains in the bullish region. AUD/USD is consolidating the overnight bounce above 0.7300, thanks to the sell-off in the US dollar, as concerns on the US economic recovery returned after the initial jobless claims remained at persistently high levels. From a technical perspective, the price managed to bounce off the critical horizontal 200-Simple Moving Average on the hourly chart (HMA) at 0.7280. From there, the rebound gathered steam, as the aussie recaptured all the major averages on the said time frame. The hourly Relative Strength Index (RSI) remains flat but holds above the midline in the bullish region, suggesting there could be more room to the upside. The bullish crossover, with the 21-HMA cutting the 100-HMA from below, also backs the case for additional gains. Therefore, the bulls could head towards the horizontal trendline resistance (orange line) at 0.7244 should they take out the daily high of 0.7334. Acceptance above the robust resistance could call for a test of 0.7400. Alternatively, the 50-HMA at 0.7305 will likely cap the immediate decline, below which the strong support at $7300 could be challenged. That level is where the 21-HMA intersected the 100-HMA. A failure to resist above the last, the bears will look to test the 200-HMA support once again. 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 Oil: Outlook remains constructive for 2021 – Goldman Sachs FX Street 1 year AUD/USD looks to extend the bounce above 0.7300. Bullish SMA crossover on the hourly chart suggests more gains. Hourly RSI turned south but remains in the bullish region. AUD/USD is consolidating the overnight bounce above 0.7300, thanks to the sell-off in the US dollar, as concerns on the US economic recovery returned after the initial jobless claims remained at persistently high levels. From a technical perspective, the price managed to bounce off the critical horizontal 200-Simple Moving Average on the hourly chart (HMA) at 0.7280. From there, the rebound gathered steam, as the aussie recaptured all the major averages on… Top 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.
