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Australian Dollar / U.S. Dollar
Long

AUDUSD breaking out nicely, potential further rise!

By Tickmill
Broker

AUDUSD has broken out of our major resistance shooting up strongly. A further rise could occur pushing price all the way up to 0.7902 resistance (Fibonacci retracement, horizontal overlap resistance). Our 1st major support would be 0.7844 (Fibonacci retracement, horizontal overlap support) with our next support at 0.7818.

RSI (89) has made a bullish exit from our long term descending resistance-turned-support line signaling that a change in momentum to bullish could be expected. We can also see short term ascending support hold price up really nicely.

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Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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