AUD/USD Technical Analysis: Aussie keeps the bullish momentum up near the 50-day simple moving average

Aussie main bear trend is getting tested as the AUD/USD is nearing the 50-day simple moving average (DMA) and the multi-month bear trendline from late January 2018.
AUD/USD bulls want to break above 0.7294-0.7307 zone (August 13 high, 50 DMA) to target 0.7383 August 21 high and 0.7485 July 10 high.
The RSI, MACD and Stochastics indicators are in positive territories which suggests a continuation of the bullish momentum above the 0.7294-0.7307 zone.

Flavio Tosti Independent Analyst

AUD/USD daily chart

Spot rate: 0.7284
Relative change: -0.09%
High: 0.7305
Low: 0.7262

Main trend: Bearish
Short-term trend: Bullish

Resistance 1: 0.7294-0.7307 August 13 high, 50 DMA
Resistance 2: 0.7383 August 21 high
Resistance 3: 0.7485 July 10 high

Support 1: 0.7255 August 13 low
Support 2: 0.7236 August 24 low
Support 3: 0.7200 figure August 15 low
Support 4: 0.7144 September 5 low
Support 5: 0.7085, 2018 low
Support 6: 0.7000 figure
Support 7: 0.6830 January 15, 2016 low

Author

Flavio Tosti

Independent Analyst

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