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  • Aussie main bear trend is getting tested as the AUD/USD is nearing the 50-day simple moving average (DMA) and the multi-month bear trendline from late January 2018.
  • AUD/USD bulls want to break above 0.7294-0.7307 zone (August 13 high, 50 DMA) to target 0.7383 August 21 high and 0.7485 July 10 high.
  • The RSI, MACD and Stochastics indicators are in positive territories which suggests a continuation of the bullish momentum above the 0.7294-0.7307 zone.  

AUD/USD daily chart

Spot rate:                 0.7284
Relative change:      -0.09%      
High:                        0.7305
Low:                         0.7262

Main trend:              Bearish
Short-term trend:     Bullish

Resistance 1:          0.7294-0.7307 August 13 high, 50 DMA
Resistance 2:          0.7383 August 21 high
Resistance 3:          0.7485 July 10 high

Support 1:               0.7255 August 13 low
Support 2:               0.7236 August 24 low
Support 3:               0.7200 figure August 15 low
Support 4:               0.7144 September 5 low
Support 5:               0.7085, 2018 low
Support 6:               0.7000 figure
Support 7:               0.6830 January 15, 2016 low