- AUD / USD rises above 0.7400 after the breakout of the symmetrical triangle on the daily chart.
- The resistance of the 100-day SMA at 0.7416 is the level to beat for the pair’s bulls.
- The daily RSI is pointing higher well above the midline, suggesting additional gains.
The AUD / USD pair is building on Wednesday’s move, as buying interest around the Aussie remains unabated despite mixed figures in the Australian jobs report and Chinese inflation data.
The pair has recovered the 0.7400 level on Thursday and is fast approaching the 100-day SMA at 0.7416.
The AUD / USD uptrend has found additional support after shareholders achieved a breakout of the symmetrical one-month triangle on the daily chart on Wednesday.
The 14-day RSI is rising above the midline, allowing room for further rallies in the pair.
Therefore, acceptance above the 100 SMA barrier will open the doors towards the 0.7450 psychological resistance.
Higher up, September highs of 0.7478 could challenge bullish engagement.
AUD / USD daily chart
On the other hand, the resistance of the triangle now turned into support at 0.7362 will protect the immediate decline.
The next significant target for AUD bears will be the 50 SMA at 0.7305. Lower down, additional weakness will lead sellers to test the 21 SMA at 0.7285.
AUD / USD additional levels
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