AUD/USD Technical Analysis: Attempting breakout amid news Trump is fearing impeachment

Over on the hourly chart, the AUD/USD pair charted a bullish divergence of the relative strength index (RSI) earlier today and is now chipping away the upper edge of the symmetrical triangle, currently at 0.7214.
A break above 0.7214, if confirmed, would allow a test of the horizontal resistance lined up at 0.7242.
Notably, the American dollar may be offered across the board as reports are doing the rounds that President Trump is worried of being impeached after Democrats take over the House. As a result, a symmetrical triangle breakout is more likely to happen.

Omkar Godbole FXStreet Contributor

Hourly Chart

AUD/USD

Overview:
    Today Last Price: 0.7208
    Today Daily change: 22 pips
    Today Daily change %: 0.306%
    Today Daily Open: 0.7186
Trends:
    Previous Daily SMA20: 0.7265
    Previous Daily SMA50: 0.7184
    Previous Daily SMA100: 0.7235
    Previous Daily SMA200: 0.7407
Levels:
    Previous Daily High: 0.7227
    Previous Daily Low: 0.7174
    Previous Weekly High: 0.7394
    Previous Weekly Low: 0.7192
    Previous Monthly High: 0.7345
    Previous Monthly Low: 0.7072
    Previous Daily Fibonacci 38.2%: 0.7207
    Previous Daily Fibonacci 61.8%: 0.7194
    Previous Daily Pivot Point S1: 0.7164
    Previous Daily Pivot Point S2: 0.7143
    Previous Daily Pivot Point S3: 0.7112
    Previous Daily Pivot Point R1: 0.7217
    Previous Daily Pivot Point R2: 0.7249
    Previous Daily Pivot Point R3: 0.727

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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