Technical Analysis: AUD/USD

The pair broke above the 0.9700 resistance.

The pair broke above the 0.9700 resistance. Should it hold on its gains, the resumption will likely continue towards the 0.9950 resistance. Otherwise, a break back below 0.9700 would confirm the bearish resumption towards the 0.9540 support and beyond to the 100-Day SMA, which resides at 0.9460.

Edward Smith, technical analyst of company Admiral Markets.

At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.

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