AUD/USD: daily update
AUD/USD rose above $0.9200 today. Aussie strengthened as the Reserve Bank of Australia said in the minutes that the inflation outlook is affected by lower AUD. The bears might have gotten very nervous and some short positions got squeezed.
We’ve noted long ago that there’s a daily MACD divergence on the daily chart – a bullish signal. We still recommend selling AUD on rallies.
Resistance lies at $0.9250, $0.9305, $0.9325 and $0.9400. Support is at $0.9070, $0.9145, $0.9037 and $0.9000.
Chart. Daily AUD/USD