AUD/USD trades in the red amid overbought signals on the daily chart. The pair still appears set to end the month on a positive note. AUD/USD is currently trading largely at 0.7173, representing a 0.17% decline on the day, having hit a multi-month high of 0.7197 on Wednesday. Despite the pullback, the pair is still up 4% on a month-to-date basis. The Aussie dollar looks set to end higher for the fourth straight month, having rallied by 6%, 2.4% and 3.57% in April, May, and June, respectively. The four-month winning streak is the longest since 2009 and has opened the doors for the test of a 50-month simple moving average hurdle, currently at 0.7279. Supporting the bullish case is the 14-month relative strength index, which has crossed above 50.00 and is hovering at the highest level since early 2018. However, a convincing break above the 50-month SMA may remain elusive for some time, as the 14-day RSI is now reporting overbought conditions with an above-70 print. As such, a pullback to the ascending 10-day SMA, currently at 0.7114, cannot be ruled out. Monthly 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 Oil prices to rebound, Brent seen at $35/ barrel in 2020 – Total FX Street 3 years AUD/USD trades in the red amid overbought signals on the daily chart. The pair still appears set to end the month on a positive note. AUD/USD is currently trading largely at 0.7173, representing a 0.17% decline on the day, having hit a multi-month high of 0.7197 on Wednesday. Despite the pullback, the pair is still up 4% on a month-to-date basis. The Aussie dollar looks set to end higher for the fourth straight month, having rallied by 6%, 2.4% and 3.57% in April, May, and June, respectively. The four-month winning streak is the longest since 2009 and has opened the… 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.
