AUD/USD battles 0.7600, keeps recovery move from 0.7557 to print mild gains. Strong RSI conditions, not overbought, keeps buyers hopeful around 10-day SMA. Short-term horizontal resistance guards immediate upside, eight-week-old trend line offers nearby key support. AUD/USD seesaws near 0.7590/95, after recently refreshing the intraday high to 0.7598, during early Tuesday. In doing so, the aussie pair rises 0.18% while taking rounds to 10-day SMA. Considering the upbeat RSI conditions, coupled with the quote’s sustained trading beyond an upward sloping trend line from November 02, AUD/USD buyers remain hopeful. Overall, bulls are likely to keep the reins, also backed by the risk-on mood amid the passage of the US coronavirus (COVID-19) aid package. However, holiday-thinned trading can keep the AUD/USD prices in check. Read: USD/JPY trims early-Asian losses to eyes 104.00 as US stimulus headlines favor risks That said, a clear break of 0.7640/41 horizontal resistance becomes necessary for the bulls before challenging June 2018 top near 0.7675. On the contrary, a downside break of the stated support line, at 0.7541 now, needs to break 21-day SMA and a three-week-long rising trend line, respectively around 0.7520 and 0.7510, before recalling the AUD/USD sellers. It should also be noted that the 0.7500 round-figure adds to the downside filters before challenging the monthly low of 0.7338. AUD/USD daily chart Trend: Bullish 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 S&P 500 Futures refresh record top above 3,700 on US covid aid package updates FX Street 1 year AUD/USD battles 0.7600, keeps recovery move from 0.7557 to print mild gains. Strong RSI conditions, not overbought, keeps buyers hopeful around 10-day SMA. Short-term horizontal resistance guards immediate upside, eight-week-old trend line offers nearby key support. AUD/USD seesaws near 0.7590/95, after recently refreshing the intraday high to 0.7598, during early Tuesday. In doing so, the aussie pair rises 0.18% while taking rounds to 10-day SMA. Considering the upbeat RSI conditions, coupled with the quote’s sustained trading beyond an upward sloping trend line from November 02, AUD/USD buyers remain hopeful. Overall, bulls are likely to keep the reins, also backed by… 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.
