AUD/USD Technical Analysis: September 30 2016
The dollar had substantiate after the remarks of Yellen regarding the advantages in supporting the central bank in purchasing stocks. The covenant OPEC for the oil price reduction also helped the economy to further improve from the latest plunge.
AUDUSD settled a bullish tone yesterday. While buyers managed to drove a higher price at 0.7700 where the pair had already broke the level. Nonetheless, the Aussie and U.S dollar did not sustain its position for long and return to a lower price at 0.7650.
The pair make a firm position over the moving averages as seen in the 4-hour chart. The 50 and 100 EMAs crossover the 200-EMA. Resistance is hovering at 0.7700, support achieved the 0.7650 level.
MACD presented the same result and reserved the strength for the sellers. RSI settled in a neutral position.
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