Chart - Courtesy Trading View
Technical Analysis: Bias Neutral
- AUD/USD was trading 0.14% higher on the day at 0.7499 at around 10:40 GMT
- The pair is extending sideways grind along weekly cloud top
- GMMA shows major and minor trend are strongly bullish
- Price action is above major moving averages which are trending higher
- MACD and ADX support upside in the pair
Support levels - 0.7449 (200H MA), 0.7412 (5-week MA), 0.7377 (21-EMA)
Resistance levels - 0.7502 (5-DMA), 0.7570 (Upper BB), 0.76
Summary: AUD/USD consolidates above weekly cloud. Retrace below 200H MA will drag the pair lower.
