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AUD/USD TECHNICAL ANALYSIS. Will AUD/USD Make New Highs?


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AUD/USD TECHNICAL ANALYSIS

The Australian Dollar has been rallying with bullish momentum potentially confirmed by a Golden Cross when the 21-day simple moving average (SMA) crossed above the 55-day SMA.

Further confirmation may unfold with a potential Golden Cross emerging as the 10-day SMA close to crossing above the 100-day SMA.

Additionally, since making the low at 0.69676 in January, the price has made higher highs and higher lows, which may confirm an ascending trend.

Resistance might be offered at the previous peak of 0.73143. On the downside, support may lie at the 10, 21, 55 and 100-day SMAs or at the previous lows of 0.70948 and 0.70863.

AUDUSD CHART

Chart created in TradingView

--- Written by Daniel McCarthy, Strategist for DailyFX.com. 3rd March 2022

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