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AUD/USD: Bullish vibes above 0.7200
The Aussie's flexing its muscles against the greenback. Hovering around 0.7250 in early Asian trading. Good news from Down Under seems to be fueling the fire.
Technically speaking, things look rosy for AUD/USD. It's holding above that critical 200-day EMA. Bullish momentum's got some legs. The RSI's cruising above 60. Kinda promising, right?
Next stop? Maybe 0.7280. That's where the upper Bollinger Band's hanging out. Break that, and we might see 0.7320. Last week's high. Who knows? 0.7380 could be on the cards too.
But let's not get ahead of ourselves. Support's lurking at 0.7220. Lower Bollinger Band territory. If that gives way, 0.7180 might come into play. The 200-day EMA. Drop below that, and 0.7140 starts looking ominous.
All in all, AUD/USD's still got that positive glow. Traders are keeping their eyes peeled for eco data from both sides of the Pacific. Could shake things up. We'll see.