AUD/USD: still bullish above 0.7570

AUD/USD has been moving in a narrow range and its structure continues to be choppy across the board. The 200 SMA at H1 chart remains as a dynamic resistance and the Fibonacci level of 78.6% at 0.7572 is still providing support for the pair. If it manages to rebound around that area, we could expect further gains towards the -23.6% Fibo zone at 0.7677.

To the downside, the next target should be December 1st lows at 0.7550. RSI indicator is entering the neutral territory, calling for more sideways’ moves in the pair.

Felipe Erazo

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