Long AUD/USD above 0.7156, target 0.7195
Surge in the commodity complex along with rising equities which suggest increased risk-on keep antipodeans supported.
Major trend in the pair is bearish. 110-EMA offers major resistance at 0.7191. Breakout above 200-DMA (0.7264) required for upside continuation.
The major is struggling at 4H 200-SMA at 0.7156, breakout above could see further upside.
For a trading perspective, we would recommend staying long above 4H 200-SMA, SL: 0.7130, TP: 0.7195.
Major trend in the pair is bearish. 110-EMA offers major resistance at 0.7191. Breakout above 200-DMA (0.7264) required for upside continuation.
The major is struggling at 4H 200-SMA at 0.7156, breakout above could see further upside.
For a trading perspective, we would recommend staying long above 4H 200-SMA, SL: 0.7130, TP: 0.7195.