AUD/USD Technical Analysis: RSI has diverged in AUD-positive manner on the hourly chart

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The AUD/USD pair – currently reporting 0.20 percent gain at 0.7135 – could rise further above 0.7150, as the 14-hour relative strength has diverged in favor of the bulls. 

Hourly chart

  • As seen above, the RSI charted a higher low yesterday in response to a lower low on price. That bullish divergence favors a stronger corrective bounce. 
  • Validating that argument is the upside break of the descending trendline.
  • The overall outlook, however, would turn bullish while the pair is trapped in a descending broadening channel. 

Trend: Neutral
 

AUD/USD

Overview:
    Today Last Price: 0.7137
    Today Daily change: 0.0019 pips
    Today Daily change %: 0.27%
    Today Daily Open: 0.7118
Trends:
    Daily SMA20: 0.7121
    Daily SMA50: 0.7181
    Daily SMA100: 0.7171
    Daily SMA200: 0.7311
Levels:
    Previous Daily High: 0.7162
    Previous Daily Low: 0.7115
    Previous Weekly High: 0.7226
    Previous Weekly Low: 0.7146
    Previous Monthly High: 0.7394
    Previous Monthly Low: 0.7014
    Daily Fibonacci 38.2%: 0.7133
    Daily Fibonacci 61.8%: 0.7144
    Daily Pivot Point S1: 0.7102
    Daily Pivot Point S2: 0.7085
    Daily Pivot Point S3: 0.7055
    Daily Pivot Point R1: 0.7149
    Daily Pivot Point R2: 0.7179
    Daily Pivot Point R3: 0.7196

 

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