• Aussie bulls are advancing towards fresh yearly highs around 0.7500.
  • Bulls are firmer above 20-EMA but hope 200-EMA to scale higher.
  • The RSI (14) is set to breach 60.00, which will unfold a fresh rally ahead.

 

The AUD/USD pair is hovering near Thursday’s high at 0.7394 and is likely to continue its three-day winning streak amid upbeat sentiment in the market. Aussie bulls have witnessed an up-sided decisive move after recording a fresh monthly low at 0.7165.

On a daily scale, AUD/USD is auctioning in a rising wedge in which every pullback towards the lower end is considered as a buying opportunity by the market participants and a fresh impulse wave initiates towards the upper end. The upper end of the rising wedge is placed from January 13 high at 0.7315 and the lower end is marked from January 28 low at 0.6966.

The 20-period Exponential Moving Average (EMA) at 0.7276 is scaling higher while the 200-period EMA is flat around 0.7300.

The Relative Strength Index (RSI) (14) is on the verge of surpassing 60.00 and may trigger a fresh rally. The oscillator is not indicating any sign of divergence and overbought.

For more upside, the aussie bulls need to surpass Friday’s high at 0.7395. The violation of Friday’s high will drive the pair towards an 8 November 2021 high at 0.7432, which will be followed by the psychological level of 0.7500.

On the flip side, bears can dictate levels if the pair slip below March 8 high at 0.7348 decisively, which will send the major to 20-EMA at 0.7276. Breach of the latter will drag the asset towards February 18 high at 0.7229.

AUD/USD daily chart

 

AUD/USD

Overview
Today last price 0.7387
Today Daily Change 0.0012
Today Daily Change % 0.16
Today daily open 0.7375
 
Trends
Daily SMA20 0.7267
Daily SMA50 0.7202
Daily SMA100 0.7218
Daily SMA200 0.7304
 
Levels
Previous Daily High 0.7394
Previous Daily Low 0.7282
Previous Weekly High 0.7441
Previous Weekly Low 0.7244
Previous Monthly High 0.7286
Previous Monthly Low 0.7032
Daily Fibonacci 38.2% 0.7351
Daily Fibonacci 61.8% 0.7324
Daily Pivot Point S1 0.7306
Daily Pivot Point S2 0.7238
Daily Pivot Point S3 0.7194
Daily Pivot Point R1 0.7419
Daily Pivot Point R2 0.7463
Daily Pivot Point R3 0.7531

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD hovers around 0.6730 reverting its negative trend

AUD/USD hovers around 0.6730 reverting its negative trend

The AUD/USD pair bounced from a weekly low of 0.6668 and trades comfortably above the 0.6700 mark. Risk aversion did little to help the greenback as the focus remains on global economic growth and the looming Fed’s decision.

AUD/USD News

EUR/USD holds above 1.0500, lacks follow-through

EUR/USD holds above 1.0500, lacks follow-through

A risk-averse environment limited EUR/USD gains, but demand for the USD remains scarce. Buyers defending the 1.0500 area, hinting at potential higher highs in the near term.

EUR/USD News

Gold carves out a bullish scenario into key resistance

Gold carves out a bullish scenario into key resistance

Gold price is higher on the day having climbed from a low of $1,768.82 and reaching a high of $1,789.05 so far as the US Dollar tails off in the mid-afternoon session in the US.

Gold News

Ethereum price subject to volatility as Chainlink enables staking on the ETH network

Ethereum price subject to volatility as Chainlink enables staking on the ETH network

Ethereum price has investors dialing in as Network advancements are arousing speculation. Still, the technicals will need to show forth stronger signals to justify opening a long position.

Read more

What happens after the Fed reaches the terminal rate

What happens after the Fed reaches the terminal rate

The discrepancy starts to show. What will the Fed do? For now, the Fed is raising rates to stave off inflation, and are expected to level out at around 5.0%. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures