AUD/USD: Resistance at 0.7720 limiting further advance – FXStreet

FXStreet (Barcelona) – Valeria Bednarik, Chief Analyst at FXStreet, offers the technical outlook and key levels for AUD/USD.

Key Quotes

“The Australian dollar retreated below the 0.7700 against the greenback, but trades for the most range bound, with a slightly positive tone in the short term, as the 20 SMA maintains a limited upward slope, whilst the technical indicators head north above their mid-lines.”

“In the 4 hours chart, however, the 20 SMA maintains a bearish slope, whilst the technical indicators remain below their mid-lines, limiting chances of a strong advance as long as the price holds below the 0.7720 resistance.”

“Support levels: 0.7640 0.7590 0.7555”

“Resistance levels: 0.7720 0.7755 0.7790”

Valeria Bednarik, Chief Analyst at FXStreet, offers the technical outlook and key levels for AUD/USD.

(Market News Provided by FXstreet)