AUD/USD Moves Near the Stiff Resistance Area of 0.7300

#OPINIONLEADER# #Signal#

ByLCMS Traders FX Analysis Team

 AUG 30, 2021

AUD/USD Daily Forecast

AUD/USD is trading near the stiff resistance area of 0.7300 and it seems that bulls are likely to cross the resistance and move higher during this week. The intraday support levels are at 0.7277 and 0.7252. The near-term resistance areas are at 0.7300 and 0.7339.

Currently, the RSI is at 48 and appears flat. The MACD is indicating a possible bullish crossover that might help bulls move higher. The SMA-14 is indicating support at 0.7267 and the SMA-50 resistance line is way high at 0.7380. The mid-Bollinger is at 0.7297 with upper and lower bands at 0.7452 and 0.7141 respectively. The current intraday and 4-hourly price pattern is bullish and favors buying entries on small dips using the following levels

Direction: Buy

Entry: 0.7270

Take Profit: 0.7315 – 0.7340

Stop-Loss: 0.7238