Currency Analyst since 2010

AUD/USD: technical picture

Australian dollar keeps trading on the upside, though it didn’t manage to close above $0.9300 and for now is below Thursday’s high of $0.9344.

There’s divergence on daily MACD and RSI is a positive signal. We believe that after some consolidation the pair will be able to test $0.9400/35 in case of a break above $0.9330/40. Further resistance lies at $0.9485 (23.6% Fibo of the decline from April), $0.9555 and $0.9640. We favor short-term buying.

On the downside, a breach of $0.9240/30 will make Aussie vulnerable for the test of the recent lows in the $0.9160/40 area.

Chart. H1 AUD/USD

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