By Christopher Romano — Jul 31 - 11:40 AM
AUD/USD opened the week by gapping at the open, gap was nearly filled
Buyers on dip below 0.6650, steady gains persisted into Europe's close
Pair rallied above the daily cloud base & top, 55-DMA and 200-DMA
The 21-DMA was pierced but light profit taking lead to a slight pull back
Rising daily, monthly RSIs imply upside momentum is now in place
Clean break & close above 21- & 10-DMA brings 0.6825/45 zone into focus
June's high, t-l off 2021 high targeted should 0.6825/45 give way
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Source:
Refinitiv IFR Research/Market Commentary