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The Australian dollar versus the US dollar recorded a bullish rebound from the lowest price of 0.7309 since May 2017.

Technical Comment: Aussie is trading today above the support area of 0.7360-0.7310 supported by a positive price divergence between the price bottoms and the MACD bottoms. Prices ended the weekly session on the "hammer" pattern, which may support prices to form a bullish momentum towards the trend line of 0.7540 then 0.7630.

Comment on the Previous Analysis: It recorded a decline near the first target of 0.7285.

Expected Daily Trend: Bullish above 0.7360-07310

 

Important Levels:

Support: 0.7390 - 0.7360 - 0.7310

Resistance: 0.7500 - 0.7540 - 0.7600

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