Aud/usd - Technical Commentary, Trading Strategy, and Support and Resistance Levels

Aud/usd - Technical Commentary, Trading Strategy, and Support and Resistance Levels


RBS has given the following technical commentary, trading strategy, and support and resistance levels:
TECHNICAL COMMENTARY: The AUD continues to trade right at the top of its range here and has managed to surpass the potentially difficult 1.0556 level which is the final retracement from the previous range. Momentum stays pretty strong and the 10 and 21 day moving averages are continuing to diverge. I (analyst) have little conviction for now but can see no reason to fight this bullish trend until there is a clearer sign of a trend reversal.
SUPPORT LEVELS: 1.0556, 1.0370
RESISTANCE LEVELS: 1.0635, 1.0856


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