AUD/USD closed yesterday at 0.7112, confirming a falling wedge breakout on the daily chart. While the bear-to-bull trend change has opened the doors to 0.72, the gains may remain elusive if the treasury yield curve inversion and the resulting recession fears continue to keep risk assets on the defensive. That said, the breakout is backed by the 14-day relative strength index’s (RSIs) bullish break above 50.00. So, the probability of the AUD rising to 0.72 looks strong. The bullish case, however, would weak if potential risk-off sends the pair below 0.7065 (Monday’s low). Daily chart Trend: Cautiously 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 Asian stocks on recovery mode as investors reassess recession fears, bond yields rise FX Street 4 years AUD/USD closed yesterday at 0.7112, confirming a falling wedge breakout on the daily chart. While the bear-to-bull trend change has opened the doors to 0.72, the gains may remain elusive if the treasury yield curve inversion and the resulting recession fears continue to keep risk assets on the defensive. That said, the breakout is backed by the 14-day relative strength index's (RSIs) bullish break above 50.00. So, the probability of the AUD rising to 0.72 looks strong. The bullish case, however, would weak if potential risk-off sends the pair below 0.7065 (Monday's low). Daily chart Trend: Cautiously… 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.
