The pair remains above key moving averages and an ascending channel, with RSI at 59 signaling sustained upward momentum.
AUD/USD stabilizes around 0.7050 in Asian trading after gaining over 0.5% the prior day, supported by a bullish technical setup. The pair trades within an ascending channel, staying above both the nine- and 50-period EMAs, reinforcing near-term strength.
The 14-day RSI at 59 indicates firm but controlled bullish momentum, while the FXS Fed Sentiment Index at 145.80 suggests policy-driven volatility may persist. Resistance is seen near 0.7120, the channel’s upper boundary, with a breakout targeting 0.7277, last reached in June 2022.
Downside support lies at the nine-day EMA of 0.7013, followed by the 50-day EMA at 0.7007. A drop below the channel’s lower boundary could shift sentiment bearish, testing the March 30 low of 0.6833.