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Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
GMMA Indicator
- Major trend is neutral, while minor trend shows positive bias
Ichimoku Analysis
- Price action is below cloud, but Chikou span is biased higher
- Bulls eyes cloud base, break above will reinforce further gains
Oscillators
- Stochs and RSI show bullish momentum, RSI well above the 50 mark
- Stochs are at overbought levels, but no sign of reversal seen
Bollinger Bands
- Bollinger bands are spread wide apart
- Volatility is high and rising
Major Support and Resistance Levels:
Support: 0.7238 (55-EMA), Resistance: 0.7305 (110-EMA)
Summary: AUD/USD trades with a bullish technical bias. However, reports of record high daily covid infections in Australia dent risk appetite and keep upside limited. Break above cloud will fuel further gains.
