AUD/USD’s bounce from falling trendline indicates scope for a retest of Tuesday’s high. Intraday average studies have bottomed out or shed bearish bias. AUD/USD looks set to revisit the high of 0.7048 seen on Tuesday, having bounced up from the support of the descending trendline breached yesterday. The 4-hour chart RSI is now reporting bullish conditions with an above-50 print. Further, major hourly chart averages have bottomed out. Notably, the 50-hour MA has crossed the 100-hour MA from below, confirming a bullish crossover. Also, the daily chart is reporting a bullish divergence of the relative strength index. As a result, the Aussie dollar could remain better bid during the day ahead. A break above 0.7048 would open the doors to the 100-day MA lined up at 0.71. 4-hour chart Daily chart Trend: Intraday 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 Sell AUD/USD at 0.7085 – Westpac FX Street 3 years AUD/USD's bounce from falling trendline indicates scope for a retest of Tuesday's high. Intraday average studies have bottomed out or shed bearish bias. AUD/USD looks set to revisit the high of 0.7048 seen on Tuesday, having bounced up from the support of the descending trendline breached yesterday. The 4-hour chart RSI is now reporting bullish conditions with an above-50 print. Further, major hourly chart averages have bottomed out. Notably, the 50-hour MA has crossed the 100-hour MA from below, confirming a bullish crossover. Also, the daily chart is reporting a bullish divergence of the relative strength index. As a result,… Top 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.
