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AUD/USD breaks above 0.7245/50 resistance

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Bali) - AUD/USD has seen a fresh push north during the Tokyo session, with broad-based USD strength, most likely triggered by year-end book rebalancing flows, to blame. The rate touched its highest level at 0.7260 after a session low of 0.7228.

    Technically, Valeria Bednarik, Chief Analyst at FXStreet, notes: "
    From the 1 hour chart, price is below its 20 SMA, while the technical indicators aim slightly higher around their mid-lines, for the most, presenting a neutral stance. In the 4 hours chart, the upside is still favored with the price above a bullish 20 SMA and above the 200 EMA, and the technical indicators holding ground well above their mid-lines, although lacking directional strength."
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