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AUD/USD chart - Trading View
AUD/USD was trading marginally higher in the Asian session today, extending upside for the 4th straight session.
The pair was trading 0.07% higher at 0.6232 at around 04:15 GMT after closing 0.98% higher in the previous session.
Aussie erased losses on Wednesday's trade and surged past the 0.62 handle, extending break above 21-EMA.
The antipodean hit session highs at 0.6250 earlier on the day, but slipped lower after RBA’s Financial Stability Review (FSR).
RBA’s FSR highlighting the coronavirus (COVID-19) risk, noted that high uncertainty to weigh over the banks’ performance and economy.
Technical indicators support upside in the near-term. GMMA shows bullish shift in short-term moving averages.
Gradual grind higher expected in the pair in the upcoming sessions. Test of 50% Fib at 0.6276 ahead of 50-DMA at 0.6390 likely.
Focus will be on the weekly release of US Jobless Claims and speech from the Federal Reserve Chairman Jerome Powell amid other COVID-19 updates.
Major Support Levels - 0.6154 (21-EMA), 0.6140 (5-DMA), 0.6036 (20-DMA)
Major Resistance Levels - 0.6276 (50% Fib), 0.63, 0.6390 (50-DMA)
