AUD/USD extends its short-term uptrend as it trades in the mid-0.6550s on Monday.
AUD/USD is in a short-term uptrend that is extending. The pair is pulling back within a rising channel. It will probably find support at the lower channel line and then resume its uptrend. AUD/USD 4-hour Chartç The pair has formed a neat channel higher on the 4-hour chart used to assess the short-term trend. AUD/USD is currently pulling back within the channel but will probably find support at the lower channel line at around 0.
The Relative Strength Index momentum indicator is not yet overbought, signaling the possibility more buyers may yet enter the market and push the pair higher. The RSI is, however, currently showing mild bearish divergence when compared with the peak of April 24 when the RSI poked into overbought . This is a slightly bearish sign. AUD/USD has broken above all three of the major moving averages – the 50-4hr, 100-4hr and 200-4hr Simple Moving Averages – a bullish indication in the near-term.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Price Analysis: Despite signs this is probably not a bullish reversal“The trend is your friend,” traders like to say, and AUD/USD is in a downtrend overall.
Read more »
AUD/USD Price Analysis: Bears await sustained break and acceptance below 0.6500 markThe AUD/USD pair comes under some renewed selling pressure on Friday and extends its steady intraday descent through the early part of the European session.
Read more »
AUD/USD Price Analysis: Trading at the top of a rangeAUD/USD is trading in the 0.6620s on Wednesday, ahead of key US data.
Read more »
AUD/USD Price Analysis: Attempts Descending Triangle breakout near 0.6600The AUD/USD pair extends its winning spell for the third trading session on Thursday.
Read more »
AUD/USD Price Analysis: Remains stuck in tight range slightly above 0.6500The AUD/USD pair trades sideways in a narrow range slightly above the psychological support of 0.6500 in the early New York session on Monday.
Read more »
Silver Price Analysis: Silver price forming a Bear Flag price patternSilver (XAG/USD) price may have formed a Bear Flag pattern on the 4-hour chart with negative implications for the precious metal’s price going forward.
Read more »