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HomeContributorsTechnical AnalysisAUD/USD Pair Moved into a Positive Zone Above $0.7300

AUD/USD Pair Moved into a Positive Zone Above $0.7300

FXOpen
By FXOpen

The Aussie Dollar started a fresh increase from the 0.7200 support zone against the US Dollar. The AUD/USD pair traded above the 0.7300 level to move into a positive zone.

The pair even traded above the 0.7350 level and the 50 hourly simple moving average. It is now facing hurdle near a connecting trend line at 0.7425 on the hourly chart. The next key resistance on the upside is near the 0.7430 level.

If there is an upside break above the 0.7430 level, the pair could rise steadily towards the 0.7450 level in the near term. Any more gains could send the pair towards 0.7480 on FXOpen.

An immediate support on the downside is near the 0.7380 level. The next key support is near the 0.7350 level. A clear break below the 0.7350 support could lead the pair towards the 0.7300 support.

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