The AUD/USD has spent most of these last 2 days consolidating recent gains, finding support in the 1.0590 level and with a high at 1.0685. Technical analysis shows in the 4 hours chart, a strongly bullish 20 SMA leading the way below current price, while indicators had turned slightly lower in overbought levels, far from offering selling signs.
The upside is still favored in the pair, with a break above 1.0685 mentioned high favoring an extension towards the 1.0720/30 area first, followed later by 1.0770 strong static resistance zone. A break below 20 SMA currently around 1.0575 will likely trigger a deeper bearish run towards the 1.0530 area.
View Live Chart for AUD/USD
The upside is still favored in the pair, with a break above 1.0685 mentioned high favoring an extension towards the 1.0720/30 area first, followed later by 1.0770 strong static resistance zone. A break below 20 SMA currently around 1.0575 will likely trigger a deeper bearish run towards the 1.0530 area.
View Live Chart for AUD/USD
