AUD/USD Moves Above 0.7300 Resistance Likely To Rise Further

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AUD/USD Moves Above 0.7300 Resistance Likely To Rise Further

ByLCMS Traders FX Analysis Team

 AUG 31, 2021

AUD/USD Daily Forecast

AUD/USD is gaining upwards traction and moving towards August 20 high. The pair is currently trading at 0.7330 with immediate support levels at 0.7308 and 0.7276. The intraday resistance levels are at 0.7349 and 0.7374.

On the intraday charts, the price pattern is bullish and the pair is heading towards the SMA-14 resistance line which is at 0.7363. The SMA-50 resistance line is at 0.7383. The pair is now keeping above the mid-Bollinger band which is at 0.7293 while the upper and lower bands are at 0.7443 and 0.7144 respectively. The RSI is at 51 and has an upwards curve and the MACD is also indicating a bullish trajectory. The intraday and 4-hourly price patterns are bullish which favors buying entries on small dips using the following levels

Direction: Buy

Entry: 0.7305

Take Profit: 0.7350 – 0.7370

Stop-loss: 0.7375

 

 

AUD/USD Moves Above 0.7300 Resistance Likely To Rise Further

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