Australia's currency fell by 6% against the US dollar since the adoption in May of the Reserve Bank of Australia's decision to reduce the rate of interest. On Friday, the AUD has strengthened its position against the US currency against the background of positive data on the index of business activity in the Australian services sector.
Trades pair AUD / USD on Friday took place with the growth, which accelerated the end of trading. Price could be sure to break the resistance 0.7270 and consolidate above. Resistance is located at 0.7400, support in the area of 0.7270.
The MACD is in the positive zone. Histogram above its signal line. Indicator continues to grow and gives a signal to buy. RSI Oscillator has reached overbought zone.
Forecast AUD / USD today
At pair has the potential to further strengthen with the first target 0.7400. Break this field will clear the way to 0.7530.
Source Fort Financial Services