30, September 2016

AUD/USD (a 4-hour chart)

The U.S. dollar strengthened due to the latest Yellen’s comments and the OPEC agreement to cut oil output.

Current situation

The pair remained bullish on Thursday. The buyers were able to push the price towards 0.7700 and even pierced the level. However, they were not able to hold their gains and the price rolled back towards 0.7650. The AUD/USD pair is hovering above the 50, 100 and 200 EMAs in the 4 hours chart. The 50 and 100 EMAs crossed the 200-EMA upwards. The resistance is at 0.7700, the support comes in at 0.7650.

MACD remained at the same level which confirms the strength of buyers. RSI is within the neutral territory.

Trading recommendations

If the AUD/USD breaks 0.7650 the price will decrease to 0.7600. Otherwise, the pair will return to 0.7700.