AUD/USD has moved above the 50 periods moving average and appears to climb further higher. The pair is currently trading at 0.7212 with immediate support at 0.7200. Other support areas are at 0.7170 and 0.7145 areas. The intraday resistance is at 0.7245 another resistance is at 0.7280.

The SMA-50 is currently indicating a support area at 0.7210 and the SMA-14 is showing support at 0.7135. The pair does not seem to have a big trading range at the moment however, the chances of a move until 0.7320 are on the table as the MACD has indicated a bullish crossover. The RSI is 53 and the line seems to be moving further up. The mid-Bollinger band is at 0.7175 and the upper band resistance is at 0.73384. Currently, the pair is good to buy on intraday bases. A decent buying level would be at or near 0.72000 with a target of 0.7260. A tight stop-loss for this trade would be 0.7260.

Bulls are anticipating a price action above 0.7270 that can take the pair further above the 0.7320 resistance area. On the downside, bears need closing below 0.7160 to take back some control.


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By LCMS Traders FX Analysis Team

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