The AUD/USD peeped above the 200-hour exponential moving average (EMA) a few minutes before press time and could rise above the inverse head-and-shoulders neckline resistance of 0.7110 during the day ahead if the equity markets pick up a strong bid. At press time, the S&P 500 futures are reporting a 0.55 percent gain. As a result, the European and American equities may trade on the offensive today, pushing the AUD and other risk currencies higher across the board. An inverse head-and-shoulders breakout, if confirmed, would open the doors to 0.72 (target as per the measured height method). The hourly RSI of 58.00 and the bullish cross on the MACD does favor a bullish breakout. Further, the long-term charts are indicating that sellers have likely run dry. Hourly Chart Spot Rate: 0.7085 Trend: Bullish AUD/USD Overview: Last Price: 0.7087 Daily change: 32 pips Daily change: 0.454% Daily Open: 0.7055 Trends: Daily SMA20: 0.7097 Daily SMA50: 0.718 Daily SMA100: 0.7286 Daily SMA200: 0.7509 Levels: Daily High: 0.7111 Daily Low: 0.705 Weekly High: 0.7128 Weekly Low: 0.702 Monthly High: 0.7316 Monthly Low: 0.7085 Daily Fibonacci 38.2%: 0.7074 Daily Fibonacci 61.8%: 0.7088 Daily Pivot Point S1: 0.7033 Daily Pivot Point S2: 0.7012 Daily Pivot Point S3: 0.6973 Daily Pivot Point R1: 0.7094 Daily Pivot Point R2: 0.7133 Daily Pivot Point R3: 0.7154 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 Bitcoin bears smell blood, and set their eyes at $6,000 FX Street 4 years The AUD/USD peeped above the 200-hour exponential moving average (EMA) a few minutes before press time and could rise above the inverse head-and-shoulders neckline resistance of 0.7110 during the day ahead if the equity markets pick up a strong bid. At press time, the S&P 500 futures are reporting a 0.55 percent gain. As a result, the European and American equities may trade on the offensive today, pushing the AUD and other risk currencies higher across the board. An inverse head-and-shoulders breakout, if confirmed, would open the doors to 0.72 (target as per the measured height method). The hourly RSI… 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.
