AUD/USD Analysis: Supported by SMAs

Dukascopy Bank Team Dukascopy Bank SA

Following a short period of the AUD/USD currency pair trading sideways, Bulls has managed to take over the movement. This surge is likely to continue until the pair reaches the upper boundary of a junior pattern.

By the middle of the European trading session on Tuesday, the exchange rate has breached a resistance cluster formed by the weekly and the monthly pivot points near the 0.7579 mark.

Furthermore, the combination of the 55-, 100-. 200– hour SMAs was providing support for the pair at the 0.7514 regions. However, on the larger time-frame, technical indicators flash a strong sell signal.

It is likely that bearish sentiment might dominate the pair within the next session.

Interested in AUDUSD technicals? Check out the key levels

1. R3 0.7698
2. R2 0.7643
3. R1 0.7612
PP 0.7557
1. S1 0.7527
2. S2 0.7472
3. S3 0.7441

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Dukascopy Bank Team

Dukascopy Bank SA

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