Technical Analysis: AUD/USD

The pair resumed the uptrend and broke above 1.0500, thus confirming the upside extension towards the...

The pair resumed the uptrend and broke above 1.0500, thus confirming the upside extension towards the 1.0765 resistance and ultimately ahead of the 1.1080 high. The nearest support is now eyed by 1.0400-1.0440, right where the 100-Day SMA and the 200-Day SMA reside. Only a clear break and consolidation below 1.0400 would negate our constructive outlook and accelerate setbacks towards the 50-Day SMA by 1.0235 or parity.

Edward Smith, technical analyst of company Admiral Markets.

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