AUD/USD is trading 0.50% higher on Monday with only the EUR performing better from the G6. The market has hit some resistance at the 0.6981 level. AUD/USD 4-hour chart AUD/USD is performing very well on Monday as the global risk appetite for equities improved. Whenever stocks are performing well the AUD seems to rise too and overnight the commitment from the Chinese government to the economy would have helped the AUD to catch a bid. Looking at the chart, the pair seems to be struggling at the blue resistance line at 0.6975. Just as it looked like the pair was about to test the psychological 0.70 area it stopped just short. Beyond that, the next resistance is at the high on the chart of 0.7064. On the downside, if the price does decide to move lower, the top or apex of the pattern the pair burst out of could be tested again. This could take the price back to around 0.69 and the area has been pretty sticky in the past. Looking at the indicators, the Relative Strength Index has just pulled away from the overbought zone. This could mean the price was overstretched and due a pullback before rising again. The MACD is looking very bullish at the moment with the signal lines above the mid-point and the histogram in the green. 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 USD/CAD: Short-term target at 1.38 – NFB FX Street 3 years AUD/USD is trading 0.50% higher on Monday with only the EUR performing better from the G6. The market has hit some resistance at the 0.6981 level. AUD/USD 4-hour chart AUD/USD is performing very well on Monday as the global risk appetite for equities improved. Whenever stocks are performing well the AUD seems to rise too and overnight the commitment from the Chinese government to the economy would have helped the AUD to catch a bid. Looking at the chart, the pair seems to be struggling at the blue resistance line at 0.6975. Just as it looked like the pair was… 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.
