AUD/USD: technically bullish, 0.76 handle is a key resistance - FXStreet

Valeria Bednarik, chief analyst at FXStreet, explained that the technical outlook favours further gains in the Aussie, but it was unable to find a clear direction ahead the upcoming Central banks’ announcements.

Key Quotes:

"The technical outlook favors additional gains, with a critical resistance standing now around 0.7600, the 23.6% retracement of this year's rally. In the 4 hours chart, the price is above a bullish 20 SMA, while the Momentum indicator heads north within positive territory, although the RSI indicator remains flat, but above its mid-line, while the 200 EMA caps the upside around 0.7570, now providing an immediate short term resistance."

"Dollar's broad weakness on a disappointing FED can take the pair well beyond the 0.7600 mark later on the day, while the opposite case will likely result in the pair retesting the 0.7450 region."