AUD/USD is trading 0.18% higher to 0.7760 and appears to be heading towards a positive weekly closing. The intraday support levels are at 0.7744 and 0.7718. The near-term resistance areas are at 0.7772 and 0.7800.
On the intraday charts, the RSI is at 52 and has an upwards curve. The pair is keeping above the moving averages and the mid-Bollinger band which is at 0.7740. The upper and lower bands are at 0.7793 and 0.7687 respectively. So far the pair is within the ongoing trading range and can be traded on both sides for small profits. A decent selling entry would be at the following levels
Take Profit: 0.7735
Take Profit: 0.7775
A weekly closing above 0.7780 would be supportive of the bulls while closing below 0.7720 would help bears move below the ongoing trading range during the next week.
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