I just checked the AUD/USD and see that it is looking for support at the 9-day EMA around 0.7214. The pair is trading near 0.7240 and remains within a well-defined upward channel. The interesting thing is that the 14-day RSI is at 60, indicating a strong bullish momentum but not yet overbought, so there is room for more upward movement. If the AUD manages to break above 0.7277 (the highest since June 2022), it could head toward 0.7460 at the upper limit of the channel. On the downside, the first support is at that 9-day EMA I mentioned, followed by 0.7200 as a critical level. If the AUD falls below the 50-day EMA at 0.7096, we could see more serious pressure toward the three-month low at 0.6833. For now, the pair maintains its bullish trend as long as these moving average levels are defended, but it’s important to watch those support points.

AUDUSD-1.03%
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