AUD/USD Forecast: Bulls trying to take the 0.7200 level
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UNLOCK OFFERAUD/USD Current Price: 0.7143
- RBA Governor Assistant Kent said the central bank is ready to buy bonds if needed.
- Wall Street’s advance helped AUD/USD to recover its positive tone.
- AUD/USD is neutral-to-bullish in the short-term, could break through 0.7200.
The AUD/USD pair has recovered some ground this Monday, ending the day not far below a daily high of 0.7149. The pair was under mild-selling pressure throughout the first part of the day, as despite the greenback’s weak tone, the poor tone of equities maintained the upside limited for the Aussie. It recovered during US trading hours, as Wall Street managed to post some gains. RBA Assistant Governor Chris Kent hit the wires, saying that the central bank is ready to buy bonds if needed to achieve its target for the 3-year yield of around 25bps. The country won’t release macroeconomic data this Tuesday.
AUD/USD short-term technical outlook
The AUD/USD pair is neutral-to-bullish in the short-term. The 4-hour chart shows that it continues to develop above, but near a directionless 20 SMA, while the larger ones maintain their bullish slopes well below the shorter one. The Momentum indicator advances within positive levels, although the RSI consolidates around 60. As long as it holds above 0.7100, the pair has room to extend its gains towards 0.7200 and beyond during the upcoming sessions, particularly if equities performance continues to improve.
Support levels: 0.7100 0.7065 0.7030
Resistance levels: 0.7160 0.7200 0.7240
View Live Chart for the AUD/USD
AUD/USD Current Price: 0.7143
- RBA Governor Assistant Kent said the central bank is ready to buy bonds if needed.
- Wall Street’s advance helped AUD/USD to recover its positive tone.
- AUD/USD is neutral-to-bullish in the short-term, could break through 0.7200.
The AUD/USD pair has recovered some ground this Monday, ending the day not far below a daily high of 0.7149. The pair was under mild-selling pressure throughout the first part of the day, as despite the greenback’s weak tone, the poor tone of equities maintained the upside limited for the Aussie. It recovered during US trading hours, as Wall Street managed to post some gains. RBA Assistant Governor Chris Kent hit the wires, saying that the central bank is ready to buy bonds if needed to achieve its target for the 3-year yield of around 25bps. The country won’t release macroeconomic data this Tuesday.
AUD/USD short-term technical outlook
The AUD/USD pair is neutral-to-bullish in the short-term. The 4-hour chart shows that it continues to develop above, but near a directionless 20 SMA, while the larger ones maintain their bullish slopes well below the shorter one. The Momentum indicator advances within positive levels, although the RSI consolidates around 60. As long as it holds above 0.7100, the pair has room to extend its gains towards 0.7200 and beyond during the upcoming sessions, particularly if equities performance continues to improve.
Support levels: 0.7100 0.7065 0.7030
Resistance levels: 0.7160 0.7200 0.7240
View Live Chart for the AUD/USD
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