- AUD / USD remains somewhat lower near the 0.7550 zone.
- The hourly chart points to a possible rally.
- You build up quite a few healthy resistance levels.
AUD / USD has stopped its selloff and looks set to extend the bounce into the next session, although a bunch of healthy barriers to the upside could make it a tough ride for the AUD bulls.
Technically, the pair oscillates in a descending channel on the hourly chart.
A sustained move above the key resistance at 0.7555-0.7559 is needed to extend the recovery momentum.. That level is the confluence area of ​​the 200 hourly moving average (HMA) and the resistance of the downtrend line.
Further north, the HMA of 21 at 0.7565 will also limit the upside. Ahead of the 50 HMA barrier at 0.7573 could challenge the bulls’ commitment.
The hourly Relative Strength Index (RSI) points south while below the midline, suggesting that recovery attempts are likely to be superficial.
He Immediate cushion is seen at the support of the descending trend line at 0.7533. A breakout of the latter could trigger a sharp decline towards the 0.7500 level.
AUD / USD: Hourly graph
Technical Levels
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