21:01 UTC
Uptrend stalling near range top · RSI 54 · price 0.71794
Higher highs since late Feb, last 3 weeks consolidating below 0.7220.
AUDUSD has been in a quarter-long uptrend off the 0.6833 February low, climbing back above EMA(50) in early April and holding it since. Price has stalled in a three-week consolidation between 0.7116 and the 0.7227 range high, with the May high at 0.7277 forming a potential double top. RSI has cooled to neutral 54 as momentum flattens at the range top.
Support: 0.7116, 0.7079, 0.6833
Resistance: 0.7227, 0.7277
What it said to watch
- Daily close above 0.7227 reopens path to the 0.7277 may high
- Loss of the 0.7116 swing low would break the consolidation and expose ema20
- Renewed USD strength on Middle East risk-off could cap the range