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AUD/USD Technical Analysis: Aussie retakes 0.71 after bull RSI divergence on hourly

The AUD/USD pair is currently trading at 0.7108, having hit a three-week low of 0.7076.  The uptick in the Asian stocks is likely boding well for the Aussie dollar.  

Hourly chart

  • As seen above, the previous hourly candle closed just above 0.71, confirming a bullish divergence of the relative strength index (RSI).  
  • A break above 0.7115 would further bolster the bull RSI divergence and allow a rally to 0.7140.  
  • However, forcing a convincing break above 0.7115 is easier said than done for the bulls, given the rising odds of RBA rate cut.  

Trend: neutral-to-bearish

AUD/USD

Overview:
       Today Last Price:  0.7109
       Today Daily change:  0.0016  pips
       Today Daily change %:  0.23%
       Today Daily Open:  0.7093
Trends:
       Daily SMA20:  0.7128
       Daily SMA50:  0.7175
       Daily SMA100:  0.7169
       Daily SMA200:  0.7304
Levels:
       Previous Daily High:  0.7167
       Previous Daily Low:  0.708
       Previous Weekly High:  0.7226
       Previous Weekly Low:  0.7146
       Previous Monthly High:  0.7394
       Previous Monthly Low:  0.7014
       Daily Fibonacci 38.2%:  0.7113
       Daily Fibonacci 61.8%:  0.7134
       Daily Pivot Point S1:  0.706
       Daily Pivot Point S2:  0.7026
       Daily Pivot Point S3:  0.6973
       Daily Pivot Point R1:  0.7147
       Daily Pivot Point R2:  0.72
       Daily Pivot Point R3:  0.7234

 

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