AUD/USD Technical Analysis: Corrective rally gathers pace
|- The AUD/USD pair is eyeing a break above the 100-hour moving average (MA) hurdle of 0.7268, having created a rounding bottom pattern on the hourly chart.
- The relative strength index (RSI) has also adopted a bullish bias.
- As a result, acceptance above 0.7268 would open the doors to 0.73.
Hourly chart
Spot Rate: 0.7260
Daily High: 0.7270
Daily Low: 0.7213
Trend: Bullish
R1: 0.7268 (100-hour moving average)
R2: 0.73 (psychological level)
R3: 0.7339 (10-day moving average)
Support
S1: 0.7241 (50-hour moving average)
S2: 0.7213 (previous hourly candle's low)
S3: 0.7184 (61.8 percent Fibonacci retracement of 2001 low - 2011 high)
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