AUD/USD surges to a five-week high, confronts key resistance-area amid overbought RSI condition. Multiple highs since August 02, 38.2% Fibonacci retracement limit immediate upside. 200-bar SMA acts as nearby support. The AUD/USD pair’s latest run-up towards multi-day top catches a breath around 0.6820 before the European session begins on Thursday. The pair seems to struggle in clearing the 0.6820/30 key resistance area that comprises of multiple highs marked since August 02 and 38.2% Fibonacci retracement level of July-August decline. Adding challenges to the upside is overbought conditions of 14-bar relative strength index (RSI). With this, sellers will look for a break below 200-bar simple moving average (SMA) level around 0.6800 to initiate fresh shorts targeting 23.6% Fibonacci retracement level of 0.6770. However, 0.6700 and horizontal support around 0.6690/85 could question pair’s further declines. During the pair’s upside beyond 0.6830, August month high near 0.6870 and 61.8% Fibonacci retracement level close to 0.6930 will be the key to watch. AUD/USD 4-hour chart Trend: pullback expected 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 Ethereum Classic price analysis: ETC/USD spikes by 3.34% in 15 mins FX Street 4 years AUD/USD surges to a five-week high, confronts key resistance-area amid overbought RSI condition. Multiple highs since August 02, 38.2% Fibonacci retracement limit immediate upside. 200-bar SMA acts as nearby support. The AUD/USD pair's latest run-up towards multi-day top catches a breath around 0.6820 before the European session begins on Thursday. The pair seems to struggle in clearing the 0.6820/30 key resistance area that comprises of multiple highs marked since August 02 and 38.2% Fibonacci retracement level of July-August decline. Adding challenges to the upside is overbought conditions of 14-bar relative strength index (RSI). With this, sellers will look for a… 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.
