AUD/USD at session highs 0.7150/55 ahead of RBA minutes

By FXStreet FXStreet (Bali) – AUD/USD keeps breaking into higher territory ahead of the Tokyo open, last at 0.7150/55 highs, with the RBA minutes next focus for the market.

AUD/USD technicals

Technically, Valeria Bednarik, Chief Analyst at FXStreet, notes: “Short term, the pair presents a positive tone, with the price advancing above a bullish 20 SMA and the technical indicators maintaining a neutral stance above their mid-lines.”

“In the 4 hours chart however, the technical indicators are turning lower, although the 20 SMA heads higher around the mentioned daily low, providing a strong support in the case of a downward correction”, Valeria adds.

AUD/USD levels to watch

On the upside, an extension through 0.7150 should expose the 0.7170/80 area (R1 and Aug 28 high alignment) ahead of the roudn number 0.72. On the downside, liquidity levels are found at 0.7130, 0.7110 with solid bids now expected at 0.71.
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Source:: FX Street