Market News & Analysis
AUD is taking advantage of China’s exports growth
Christophe Chevalier May 7, 2020 7:20 AM
From a technical point of view, on an intraday chart, AUD/USD has broken above a declining trend line. It also stands above its 50-period moving average (in blue) as the daily RSI is pushing north. Readers may therefore consider the potential for further advance above horizontal support at 0.6395. The nearest resistance would be set at May 5 top at 0.6475 and a second one would be set at set at 0.6500 in extension.
Source: TradingView, GAIN Capital
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