AUD/USD has recovered from the seven-month low of 0.6828 hit earlier today Aussie may rise further toward 0.6860, as the 4-hour chart is showing a bullish indicator divergence. AUD/USD took a beating in early Asia, falling to 0.6828, the lowest level since Jan. 3, on broad-based US Dollar demand. As of writing, the spot is trading at 0.6842, representing marginal losses on the day. The relative strength index (RSI) on the 4-hour chart is now reporting a bullish divergence (higher lows). The hourly RSI is also flashing a similar development. So, further extension of the corrective bounce toward resistance at 0.6860 cannot be ruled out. A better-than-expected Aussie data released at 01:30 GMT also favors a stronger corrective bounce. The import price index for the second quarter came in at 0.9%, bettering the estimated drop of 1.4% by a big margin. Meanwhile, the export price index also beat estimates with a 3.8% print. 4-hour chart Trend: Oversold bounce Pivot points 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 China Jul Caixin manufacturing PMI beats expectations by 0.4 FX Street 4 years AUD/USD has recovered from the seven-month low of 0.6828 hit earlier today Aussie may rise further toward 0.6860, as the 4-hour chart is showing a bullish indicator divergence. AUD/USD took a beating in early Asia, falling to 0.6828, the lowest level since Jan. 3, on broad-based US Dollar demand. As of writing, the spot is trading at 0.6842, representing marginal losses on the day. The relative strength index (RSI) on the 4-hour chart is now reporting a bullish divergence (higher lows). The hourly RSI is also flashing a similar development. So, further extension of the corrective… 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.
