FxWirePro: AUD/JPY depressed at trendline resistance, outlook bullish as long as pair holds above cloud
FxWirePro: USD/JPY slips below 104 handle, risk-off amid Sino-American tensions and coronavirus vaccine doubts weigh
FxWirePro: AUD/USD extends bounce off 110-EMA support, selling pressure surrounding the greenback supports
AUD/USD chart - Trading View
AUD/USD was extending bounce off 110-EMA support, gains for the 3rd straight session.
The pair was trading 0.36% higher on the day at 0.7142 at around 11:10 GMT, scope for further upside.
The pair saw a turnaround from the 0.7100 levels supported by fresh USD selling. Uptick in the equity markets undermined the safe-haven USD.
Upside lacks traction. Cloud offers strong resistance. Oscillators are rising. Decisive break above cloud will change near-term trend.
That said, expectations that the RBA will cut interest rates in November will keep a lid on upside for the pair.
Support levels - 0.7098 (5-DMA), 0.7045 (110-EMA)
Resistance levels - 0.7167 (Cloud base), 0.7197 (50-DMA)