The AUD/USD continues to look for resistance at 0.7277, the highest since June 2022. I have been observing how the pair maintains its bullish momentum with the RSI at 60, still far from the overbought zone, which suggests there is more room to the upside. The AUD is trading around 0.7240 during Asian sessions, moving within the upward channel.



What’s interesting is that the AUD/USD remains above the 9 and 50-period moving averages, confirming the bullish trend. If it breaks 0.7277, it could head toward 0.7460. But if it declines, the initial support is at the 9-day EMA near 0.7214.

On the downside, the AUD could fall to the 50-day EMA at 0.7096, and if it gives way there, the next target would be the three-month low at 0.6833. For now, buyers are in control.
AUDUSD-0.22%
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